DoubleLine's Gundlach says Fed may change 'patient' to 'flexible'

By Jennifer Ablan NEW YORK (Reuters) - The Federal Reserve on Wednesday will likely discard a pledge to remain "patient" before hiking rates, replacing it with the word "flexible," said widely followed investor Jeffrey Gundlach, co-founder of DoubleLine Capital. "Patience out," Gundlach told Reuters in an email ahead of the Federal Reserve's policy statement to be released at 2 p.m. EDT on Wednesday. While the turn in language would open the door to an initial