Much attention will of course be given to the discussion of whether the word "measured" will be removed from future policy statements. The Fed gave it attention in a way that has soothed investors by indicating that the removal of "measured" would be sought simply to give the Fed added flexibility to either pause or accelerate its pace of interest rate hikes: Members ... believed that the wording did not rule out either picking up the pace of firming or pausing in the process of removing policy accommodation should circumstances warrant. Henceforth, the removal of "measured" from the Fed's future policy statements is likely to ruffle fewer feathers than would have been the case before today, owing to the clarification provided in the minutes on what removing the "measured" would actually mean. Many are likely to also be bulled up by even the mere mentioning of a pause.