Racial segregation inflicts huge economic loss upon US, CNN says

WASHINGTON - A Moody's Analytics report has shown that racial segregation is taking a huge economic toll in the United States, costing the country as much as billions of US dollars every year, reported CNN on Tuesday.

Deeply entrenched racial bias and segregation, according to the findings published by the financial services provider earlier this month, are holding back the country's potential, while more integrated communities, in contrast, have seen greater long-term growth.

The wealth gap facing the country persists, said the CNN. As a Moody's Analytics analysis of federal data shows, the significant gaps in wealth and in homeownership between White Americans and Black or Hispanic Americans have not improved over the past three decades.