Hassett Is Already Backed Into a Corner

To the Editor:
Even if Kevin Hassett wants to be an independent Federal Reserve chair, should he get nominated by President Donald Trump (and Senate approved), he would already be backed into a corner (“Kevin Hassett Says He Would Be Independent at the Fed. Some Who Know Him Worry,” Cover Story, Dec. 11). After all of Trump’s attempts to intervene in Fed policy and his litmus test to be nominated, how could Hassett have any credibility?

Harry Kirsch
Lafayette, Calif.

To the Editor:
It isn’t just inflation. Interest rates need to be set at a level that is fair to both the borrower and the lender (savers). Interest rates are barely above the inflation rate as it is. The federal-funds rate averaged 2.2% above the inflation rate for the four decades before the turn of the century, and gross domestic product grew at a robust rate of 3.6% annually during that period. Since then, the FFR has averaged 1% below the inflation rate, and GDP grew at a whopping 2% during that period. A fair rate is better for the real economy than one that is too low.

Darryl Egbert
On Barrons.com

T-Bill Buying Frenzy

To the Editor:
It’s a red flag when the Fed has to buy long-term securities to hold down interest rates (“The Fed Is Buying Billions in T-Bills. Just Don’t Call It QE,” Up & Down Wall Street, Dec. 12). The market is concerned about the endless and growing deficits combined with already excessive debt levels. The securities the Fed is buying turn into losses if marked to market with normal rates. Does anyone really think long-term rates will be declining with the kind of deficits and spending we have in Washington?

Eric Bowles
On Barrons.com

No to Comcast, MSGS

To the Editor:
Kudos to Andrew Bary for the performance of his 2025 list of 10 best stocks (“Amazon and 9 More Stocks to Buy for 2026,” Dec. 12). That said, I’m amazed that he included Comcast, the value trap of all value traps, in his 2026 list. Brian Roberts has run this company like a private fiefdom with supermajority voting power, and the proof is in the stock price over the past decade. Madison Square Garden Sports, under James Dolan, is only marginally better.

Bill Gottdenker
Mountainside, N.J.

Cal-Maine Will Diversify

To the Editor:
Cal-Maine Foods’ balance sheet is stellar, and its stock is pretty cheap compared with most companies (“Put Some Eggs in This Stock’s Basket. It’s Time to Buy,” Dec. 11). I imagine that Cal-Maine will make more acquisitions to diversify away from eggs, and the price/earnings ratio will eventually reflect a higher value.

Joe Farrell
On Barrons.com

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