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Greater Wealth, Greater Uncertainty: Changes in Racial Inequality in the Survey of Consumer Finances

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Abstract

We document racial disparities in financial well-being in the 2022 Survey of Consumer Finances. The typical White family had about six times as much wealth as the typical Black family, and five times as much as the typical Hispanic family.

Suggested Citation

  • Aditya Aladangady & Andrew C. Chang & Jacob Krimmel, 2023. "Greater Wealth, Greater Uncertainty: Changes in Racial Inequality in the Survey of Consumer Finances," FEDS Notes 2023-10-18-2, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2023-10-18-2
    DOI: 10.17016/2380-7172.3405
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/greater-wealth-greater-uncertainty-changes-in-racial-inequality-in-the-survey-of-consumer-finances-20231018.html
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    Cited by:

    1. LaVoice, Jessica & Vamossy, Domonkos F., 2024. "Racial disparities in debt collection," Journal of Banking & Finance, Elsevier, vol. 164(C).

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