ComfortablyGlum , 10 months ago

Despite Black families experiencing the largest growth in median net wealth — a 60% bump from 2019 — their 2022 levels remained the lowest among all other racial or ethnic groups, and they also saw incomes falter.

The 37% rise in net worth, which was more than double the next-largest upswing on record, was largely fueled by asset growth — specifically home values and stock market gains that far exceeded consumer price inflation, Fed researchers said.

Figured_ I would add a bit more context to your argument. You can’t gain in net wealth if you have nothing to gain with. Emphasis in above quote is mine.