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.
“2016 survey of consumer nances,” Federal Reserve Board, September 2017, federalreserve.gov; Oxford Economics; McKinsey Global Institute analysis