Citi report sees $16 tn drag on US economy from racism

Citi report sees $16 tn drag on US economy from racism
Citigroup pledged $1 billion in initiatves to address racial inequity

New York (AFP) - Racial inequality has cost the US economy $16 trillion in wealth over the last two decades, Citigroup said in a report Thursday.The banking giant -- pointing to the drag from unequal pay, housing discrimination, education disparity and other longstanding ills in the United States -- simultaneously pledged $1 billion in initiatives for Black-oriented business needs."Addressing racism and closing the racial wealth gap is the most critical challenge we face in creating a fair and inclusive society and we know that more of the same won't do," said Citigroup Chief Executive Michael...

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