“The racial wealth gap is the lowest it’s been in 20 years because of our efforts.”
What FactCheck.org found
A 2023 paper from Federal Reserve Board staffers does show that the wealth ratio between white and Black families in 2022 was the smallest in 20 years, but the gap in absolute dollars was the widest going back to 1989.
Their words, from the summary they publish with the rating.
In short
Joe Biden (U.S. President) made this claim around 29 May 2024. FactCheck.org (United States) looked into it and published its finding on 5 June 2024, 7 days later. Its rating was “Not the Whole Story”.
Joe Biden has 509 checked claims in this archive. Fact-checking organisations rated 140 of them false or fake, 281 misleading or mixed and 34 true.
This check was done by FactCheck.org, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.
Related checks
- PolitiFact: Half True“The racial wealth gap is the smallest it’s been in 20 years.”