The new study released by Fed detailed the demographics of wealth in the U.S. According to the study, the demographics did not change much over time. Except that it did:
“Asian families’ median income already has surpassed that of whites, while Asians’ median wealth soon will surpass the white median level,” a new report out from the Federal Reserve Bank of St. Louis finds. An Asian family had an inflation-adjusted median wealth of $91,440 in 2013, up almost 43 percent from 1989, it found using data from the Fed’s Survey of Consumer Finances. That compares with a 3 percent increase to $134,008 for whites.
The answer to this change in demographics, the study suggests, is education. On average, over 70 percent of Asians completed a degree certification post high-school – that is more than any other race in the U.S.