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Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances

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Abstract

New data from the 2019 Survey of Consumer Finances (SCF) show that long-standing and substantial wealth disparities between families in different racial and ethnic groups were little changed since the last survey in 2016; the typical White family has eight times the wealth of the typical Black family and five times the wealth of the typical Hispanic family.

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  • Neil Bhutta & Andrew C. Chang & Lisa J. Dettling & Joanne W. Hsu, 2020. "Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances," FEDS Notes 2020-09-28-2, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2020-09-28-2
    DOI: 10.17016/2380-7172.2797
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    Cited by:

    1. Mee Jung Kim & Kyung Min Lee & J. David Brown & John S. Earle, 2021. "Black Entrepreneurs, Job Creation, and Financial Constraints," Working Papers 21-11, Center for Economic Studies, U.S. Census Bureau.
    2. Claudia Sahm, 2021. "COVID-19 Is Transforming Economic Policy in the United States," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(4), pages 185-190, July.
    3. Matteo Crosignani & Hanh Le, 2023. "Stakeholders’ Aversion to Inequality and Bank Lending to Minorities," Staff Reports 1079, Federal Reserve Bank of New York.
    4. Jesse Bricker & Sarena Goodman & Alice Henriques Volz & Kevin B. Moore, 2021. "A Wealth of Information: Augmenting the Survey of Consumer Finances to Characterize the Full U.S. Wealth Distribution," Finance and Economics Discussion Series 2021-053, Board of Governors of the Federal Reserve System (U.S.).
    5. Kevin T. Smiley & Ilan Noy & Michael F. Wehner & Dave Frame & Christopher C. Sampson & Oliver E. J. Wing, 2022. "Social inequalities in climate change-attributed impacts of Hurricane Harvey," Nature Communications, Nature, vol. 13(1), pages 1-10, December.
    6. Neil Bhutta & Aurel Hizmo & Daniel R. Ringo, 2022. "How Much Does Racial Bias Affect Mortgage Lending? Evidence from Human and Algorithmic Credit Decisions," Finance and Economics Discussion Series 2022-067, Board of Governors of the Federal Reserve System (U.S.).
    7. Phillip B. Levine & Dubravka Ritter, 2022. "The Racial Wealth Gap, Financial Aid, and College Access," NBER Working Papers 30490, National Bureau of Economic Research, Inc.
    8. Glei, Dana A. & Lee, Chioun & Weinstein, Maxine, 2022. "Income, wealth, and Black-White disparities in cognition," Social Science & Medicine, Elsevier, vol. 310(C).
    9. Bradley Bereitschaft, 2023. "The changing ethno-racial profile of ‘very walkable’ urban neighbourhoods in the US (2010–2020): Are minorities under-represented?," Urban Studies, Urban Studies Journal Limited, vol. 60(4), pages 638-654, March.
    10. Clayton Winters‐Michaud & Wesley Burnett & Scott Callahan & Andrew Keller & Michael Williams & Sumayyah Harakat, 2024. "Land‐use patterns on heirs' property in the American South," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 46(1), pages 154-168, March.
    11. Neil Bhutta & Aurel Hizmo & Daniel R. Ringo, 2024. "How Much Does Racial Bias Affect Mortgage Lending? Evidence from Human and Algorithmic Credit Decisions," Working Papers 24-09, Federal Reserve Bank of Philadelphia.
    12. HanNa Lim & Su Hyun Shin & Hyunjung Ji, 2022. "The effect of natural disasters on household economic hardship during a pandemic," Journal of Consumer Affairs, Wiley Blackwell, vol. 56(4), pages 1525-1560, December.
    13. Stephen Roll & Yung Chun & Olga Kondratjeva & Mathieu Despard & Talia Meital Schwartz-Tayri & Michal Grinstein-Weiss, 2022. "Household Spending Patterns and Hardships during COVID-19: A Comparative Study of the U.S. and Israel," Journal of Family and Economic Issues, Springer, vol. 43(2), pages 261-281, June.

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