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⚡IMPACT LEVEL 3 — NOTEWORTHY

Epstein File EFTA01458977: Yellen and Janet Yellen (DS10)

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This document contains financial commentary about Federal Reserve Chair Janet Yellen, discussing policy normalization and economic perspectives. The excerpt suggests an analysis of monetary policy, focusing on GDP growth and neutral real interest rates. The document appears to be a financial analysis or commentary about Yellen's economic perspectives.

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For Chair **Yellen**, we expect the normalization of policy will be driven not by an increase in GDP growth, but rather by the fact that the neutral real rate

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