Federal Reserve Data Shows Racial Wealth Gap Unchanged Since 1960s

Federal Reserve data showed 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 McKinsey Global Institute estimated the racial wealth gap costs the U.S. economy $1-$1.5 trillion annually.