Closing the racial wealth gap

By closing the racial wealth gap, the US GDP could be 4 to 6 percent higher by 2028.

Real GDP increase from closing racial wealth gap, $ trillion1

Depending on assumptions regarding growth in racial wealth gap, real GDP could be 4–6% higher by 2028 if gap is closed, translating to an increase of $2,900–$4,300 in GDP per capita4

1 2018 dollars.

2 Assumes that, over time, wealth gap will close in linear fashion, reaching scenario’s assumed targets by 2028.

3 $2,631 billion–$3,990 billion in nominal dollars.

4 $7,500–$11,400 in nominal dollars.

Insights/Notes
Last year, a study released by McKinsey found that real GDP could be 4-6% higher by 2028 if the racial wealth gap is closed
Source(s):
“2016 survey of consumer ƒnances,” Federal Reserve Board, September 2017, federalreserve.gov; Oxford Economics; McKinsey Global Institute analysis