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Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Image

Since 2000, U.S. GDP has lost $16 trillion as a result of anti-Black discrimination, a new study from Citi global economist Dana Peterson and global chief economist Catherine Mann finds.

What they're saying: "The analysis in the report that follows shows that if four key racial gaps for Blacks — wages, education, housing, and investment — were closed 20 years ago, $16 trillion could have been added to the U.S. economy," Citi vice chairman Raymond J. McGuire says in the report.

  • "And if the gaps are closed today, $5 trillion can be added to U.S. GDP over the next five years."

By the numbers: The study highlights the areas where discrimination has cost the U.S. economy most significantly:

  • $13 trillion lost in potential business revenue from discriminatory lending to Black entrepreneurs, with an estimated 6.1 million jobs not generated as a result.
  • $2.7 trillion in income lost because of disparities in wages.
  • $218 billion lost because of discrimination in housing credit.
  • $90 billion-$113 billion in lifetime income lost from discrimination in access to higher education.

Go deeper

Boeing expects to sell fewer planes over the next decade

(Photo by DANIEL SLIM/AFP via Getty Images)

Boeing expects demand for commercial airplanes over the next decade to be 11 percent lower than what it was forecasting just a little over a year ago — a direct result of the economic shock from the coronavirus pandemic.

  • Yes, but: Long-term growth rates should return after 2030, the company said Tuesday.

Why it matters: The pandemic upended what had been a long, steady ascent for the global aviation industry, with U.S. domestic passenger traffic down 70 percent and by as much as 90 percent internationally.

Updated 3 hours ago - Politics & Policy

U.S. sounds alarm on Ukraine

Conscripts line up at a Russian railway station yesterday before departing for Army service. Photo: Sergei Malgavko/TASS via Getty Images

The Biden administration is "deeply concerned" by new intelligence — detailed for Axios and other outlets — showing Russia stepping up preparations to invade Ukraine as soon as early 2022.

Why it matters: Most of this was known from public sources and satellite imagery, but the administration is sending a stronger signal by releasing specific details from the intelligence community.

CNN fires Chris Cuomo

Photo: Kevin Mazur/Getty Images for CNN

CNN said Saturday evening it has fired one of its star anchors, Chris Cuomo, following new revelations from a legal review made by the company into Cuomo's involvement in the management of his brother's sexual harassment scandal.

Why it matters: Saturday's firing speaks to how much pressure CNN was under by employees and critics to address Cuomo's behavior.