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Racial and Ethnic Wealth Inequality in the Post-Pandemic Era

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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.

Suggested Citation

  • Benjamin Lahey & Rajashri Chakrabarti & Natalia Emanuel, 2024. "Racial and Ethnic Wealth Inequality in the Post-Pandemic Era," Liberty Street Economics 20240207a, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:97734
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    File URL: https://libertystreeteconomics.newyorkfed.org/2024/02/racial-and-ethnic-wealth-inequality-in-the-post-pandemic-era/
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    File URL: https://newyorkfed.org/medialibrary/media/research/blog/2024/LSE_2024_racial-wealth-inequality_chakrabarti_data
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    File URL: https://newyorkfed.org/medialibrary/media/research/blog/2024/LSE_2024_wealth-inequality-Net-Worth-by-Race-and-Age
    File Function: Net Worth by Race and Age data
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    File URL: https://newyorkfed.org/medialibrary/media/research/blog/2024/LSE_2024_wealth-inequality-pensions-data
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    More about this item

    Keywords

    inequality; race; wealth; COVID-19; COVID-19 pandemic;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • J00 - Labor and Demographic Economics - - General - - - General
    • G1 - Financial Economics - - General Financial Markets

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