Wealth disparities by race grew during the pandemic, despite income gains, report shows

Wealth disparities by race grew during the pandemic, despite income gains, report shows

NEW YORK (AP) — A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic, new data released this week show. According to a report from the New York Federal Reserve Bank, the real net worth of white individuals outgrew that of Black and Hispanic individuals by 30 percentage points and 9 percentage points respectively, from the fir…