If current federal wealth-building policies remain in place, it will take the average African-American family 228 years to amass the same amount of wealth that white families have today, and Latino families 84 years, according to a new report from the Corporation for Enterprise Development (CFED) and the Institute for Policy Studies (IPS).
The Ever-Growing Gap: Failing to Address the Status Quo Will Drive the Racial Wealth Divide for Centuries to Come, analyzed new data to show how the well-documented chasm between white and African-American and Latino household wealth will play out decades and even centuries. Without policy change, families of color may never close the gap.
CFED, a long-time client, turned to The Hatcher Group to draw attention to these startling findings. Our efforts resulted in more than 60 national stories, including pieces in the Wall Street Journal, Politico, The Huffington Post, The Root and on Marketplace and CNBC.
Additionally, the report was widely shared on social media—including this tweet from Sen. Bernie Sanders, who shared The Nation’s take on the study with his 5.6 million followers.