My palm is growing strange leaves...any help?

Hi all,
I've been unsuccessfully searching the web trying to identify what is happening to my palm tree. Hope you can help me with this.
I have a small palm tree, I am not sure about the type/name, but judging from the photos on the web it is probably Areca or Phoenix palm. It is about 4-5 years old, half a meter tall.
A month ago it grew something, which initially looked like a new leaf, but later developed quite funny. It is a long stem with few shorter coming out of it (like a tree) and these little round bumps all over. I am not sure what is it and should I leave it or cut it? I suspect it may be seeds, but I haven't seen any info on the web about palms growing seeds like that.
Any help is greatly appreciated!
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I have 2 palms, don't know the type or name either, but both of mine do this all the time. Nothing to worry about. Sue in Mi. (zone 5)
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You seem to be describing a floral stem with buds. If you want to leave it or remove it is up to you.

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