Of course these policies and practices continue to affect people today. Racism causes trauma and trauma is carried in the cells of the bodies and passed generationally. Additionally, lost wealth and culture cannot just be re-created even after years and generations. In a home that is financially insecure you are more likely to be food insecure, which can effect you educational outcomes. not having access to housing and healthy environments is also compounded by a lack of access to healthcare and the ability to afford medical services. All of these things just begin to compound, not dilute.
Racism in society can lead to truncated socioeconomic mobility, differential access to desirable resources, and poor living conditions that can have an adverse affect on mental health. Especially children!