Last year, the median wealth for Black families was less than 15 percent that of White families, according to the 2019 Survey of Consumer Finances, released by the Federal Reserve on Monday. White families had median family wealth of $188,200, compared to that of Black families, which was $24,100.

The extensive survey is a detailed look at 2019-era American household finances right before the recession began and millions of jobs were wiped clean, offering yet another snapshot of an economy that worked best for White Americans and those at the top.

Those disparities laid the foundation for a recession that has been painfully unequal, with the worst of the crisis over for the wealthiest Americans while others scramble to make

Read More At Article Source | Article Attribution