HR 5360

This bill requires the Federal Reserve to collect more detailed data on household wealth and debt, broken down by race, ethnicity, tribal affiliation, and ancestral origin. The goal is to better understand the significant racial wealth gap in the United States, which has widened considerably over the past several decades. By gathering this data, policymakers can gain insights into the systemic factors contributing to this disparity and develop more effective strategies to address it. The bill emphasizes that changes in individual behavior alone won’t close the gap, requiring a focus on structural policy changes.