Racism cost the US economy $16 trillion over the last 2 decades, Citi study finds
Citi recently committed $550 million to support homeownership for people of color and affordable housing by minority developers.Race-based discrimination and inequality has cost the US about $16 trillion in lost gross domestic product over the last two decades, according to a new study published by Citi, first reported byThe lost GDP is a result of Black Americans earning less than white Americans, having less access to home and small business loans, and limited access to higher education.
If the US could immediately end "the most severe forms of economic discrimination against African Americans," US GDP would see a $5 trillion boost by 2025, Bloomberg
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