TRUE.
This statement is based on data from the Federal Reserve's Survey of Consumer Finances, which found that Black families' median net worth declined by more than 44% from 2007 to 2010, while White families' median net worth declined by about 26%.
The reasons for this disparity are complex and multifaceted, but they are rooted in systemic inequities and discrimination that have historically limited Black Americans' access to resources and opportunities for wealth accumulation, such as homeownership, education, and inheritance. The economic downturn of 2008 exacerbated these disparities, as Black families were more likely to have higher levels of debt and less access to credit and financial assistance during this period.