The newly released data from the Federal Reserve shows the median net worth of Black American households declining by 25 percent, falling from $49,100 in 2022 to $36,800 in 2025. Black Americans already had the least wealth of the major racial groups, but since White, Hispanic, and Asian Americans all experienced increases in their net worth (Figure 1), Black households have fallen even further behind.

Figure 1

Because of this decline, Black households’ median wealth was $179,100 below the national median in 2025, an increase from $162,000 in 2022. While Black households had the lowest median wealth, Asian Americans had the highest median ($677,600), White Americans, the second highest ($332,100), and Hispanic Americans the third ($79,600) (Figure 2). The Hispanic level is also far below the national median.

Figure 2

CEPR’s analysis of the newly released data suggests that the decline in Black net worth is due in part to declines in the value of Black homes, vehicles, and retirement accounts. Also, the percentage of Black households with nonfinancial assets dropped from 81 percent to 78.4 percent from 2022 to 2025.

The Trump administration’s priority for race-targeted policy is helping White people. The administration is channeling its resources toward addressing discrimination against White men although by race Black people are the primary target for discrimination. The administration’s refugee policy is focused on bringing White South Africans to the United States and ignoring all of the truly needy people in the world.

Black Americans are not likely to receive any help from the Trump administration in addressing this decline in wealth. They will have to turn elsewhere, to state and local governments and nonprofit organizations.

This first appeared on CEPR.