(CNN)The financial standing of Black and White Americans is anything but equal.
When it comes to wealth and income, major disparities persist despite the years of economic prosperity that preceded the coronavirus pandemic.
This long-standing racial divide has garnered renewed attention in the Biden administration, which has committed to improving equity as it guides the nation out of the virus-fueled economic downturn.
Also bringing the unequal fortunes of Blacks and Whites into the spotlight: The centennial of the race massacre that destroyed of the Greenwood section of Tulsa, Oklahoma, which was known as Black Wall Street.
The numbers are staggering.
The typical non-Hispanic White family had nearly eight times the net worth of the typical non-Hispanic Black family in 2019, according to the most recent Federal Reserve Bank data. That gap stems in part from lower rates of home ownership and smaller inheritances among Blacks.
Wealth is all the more important these days since it serves as a safety net during economic downturns. And Black Americans are not benefiting from the run up in stock prices and home values as much as White Americans are since they are less likely to own these assets.
The median income of Black Americans in 2
US Black-White inequality in 4 charts
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