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Racial and Ethnic Inequalities in Household Wealth Persist

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Abstract

Disparities in wealth are pronounced across racial and ethnic groups in the United States. As part of an ongoing series on inequality and equitable growth, we have been documenting the evolution of these gaps between Black, Hispanic, and white households, in this case from the first quarter of 2019 to the fourth quarter of 2023 for a variety of assets and liabilities for a pandemic-era picture. We find that real wealth grew and that the pace of growth for Black, Hispanic, and white households was very similar across this timeframe—yet gaps across groups persist.

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  • Benjamin Lahey & Rajashri Chakrabarti & Natalia Emanuel, 2024. "Racial and Ethnic Inequalities in Household Wealth Persist," Liberty Street Economics 20240628, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:98464
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    File URL: https://libertystreeteconomics.newyorkfed.org/2024/06/racial-and-ethnic-inequalities-in-household-wealth-persist/
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    More about this item

    Keywords

    wealth inequality; inequality; pandemic; demographics; racial inequity;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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