How Energy Investors Should Read The Fed’s Latest Notes

As somebody whose start in markets came in interbank foreign exchange, I am used to a degree of obsession with central banks. Back when I started in that market, which was longer ago than I care to admit, central banks still believed that they controlled the fate of their own currencies. They seemed to take delight at that time in surprising us all, whether that be with interest rate changes or direct intervention, and we all spent an inordinate amount of time parsing everything they said and trying to predict what they would do. That said, though,…