Fed Says It Will be 'Patient' on Future Interest-Rate Moves

The Federal Reserve has shifted its policy stance by dropping its commitment to gradual rate increases, opting instead for a patient approach to future rate adjustments, which could include cuts. The Fed also removed its balance of risks assessment and maintains that sustained growth, strong labor markets, and 2% inflation are likely. The Fed will continue using the floor system for setting rates and has not specified the balance sheet's size or when it will stop reducing it. They noted that market-based inflation measures have decreased, while survey-based measures remain stable. All policy decisions were unanimous.

What did the Fed change regarding the language on increasing the balance sheet?

What was the consensus regarding the decisions on policy and the balance sheet?