Racial and Ethnic Wealth Inequality in the Post-Pandemic Era

Benjamin Lahey, Rajashri Chakrabarti and Natalia Emanuel

No 20240207a, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Wealth is unevenly distributed across racial and ethnic groups in the United States. In this first post in a two-part series on wealth inequality, we use the Distributional Financial Accounts (DFA) to document these disparities between Black, Hispanic, and white households from the first quarter of 2019 to the third quarter of 2023 for wealth and a variety of asset and liability categories. We find that these disparities have been exacerbated since the pandemic, likely due to rapid growth in the financial assets more often held by white individuals.

Keywords: inequality; race; wealth; COVID-19; COVID-19 pandemic (search for similar items in EconPapers)
JEL-codes: D63 G1 J00 (search for similar items in EconPapers)
Date: 2024-02-07
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