Federal Reserve Data Shows Racial Wealth Gap Has Not Narrowed Since 1960s

Federal Reserve data published in September 2019 showed that in 2016, white families had a median net worth of $171,000 versus $17,150 for Black families — a 10:1 ratio. The gap had not meaningfully narrowed since the late 1960s. White families received 84% of all inheritances in the U.S.; Black families received 3%. The wealth gap compounded through homeownership: median home equity for white families was $215,800 versus $94,400 for Black families. The McKinsey Global Institute estimated the racial wealth gap costs the U.S. economy $1–1.5 trillion annually. Researchers traced the gap to slavery, Jim Crow, redlining, and the GI Bill's exclusionary implementation.