The finance world is freaking out because the latest Federal Reserve statement has dropped the word, “Patient,” from the text. (See here, here, and here)

It’s not a change in policy, it’s simply making a bit more likely that will make a statement that they might change policy some time in the future, or, as Fed Chair Janet Yellen said, “Just because we removed the word ‘patient’ doesn’t mean we’re going to be impatient.”

It’s kind of a tempest in a teapot.