Cole Smead, president and portfolio manager at Smead Capital Management, told CNBC's "Squawk Box Europe" on Thursday that this more hawkish tone on monetary policy represented a "mea culpa."
"What Jay Powell is saying is 'I was wrong," he said, adding that it is not yet fully understood what this change in tone means for Fed policy and the value of assets., is scheduled to give his departing thoughts at the American Enterprise Institute at 11 a.m. ET. On the data front, the number of jobless claims filed during the week ended Nov. 27 will be released at 8:15 a.m. ET. Economists polled by Dow Jones expect that 240,000 were filed last week. TheAuctions are slated to be held on Thursday for $10 billion of 4-week bills and $25 billion of 8-week bills.
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