The dots did the talking last week, not the statement (link). The dots showed a dramatic change in sentiment about the likely path of the funds rate. While the median still implied two hikes in 2016, the distribution changed dramatically, with fewer projecting more than two hikes and many more projecting only one.
There was only one piece of communication after the June FOMC meeting. It was from President Bullard, though some of the more provocative comments came in his remarks to reporters. He revealed that he was the participant who did not submit a longer-run dot (presumably a protest against the dots), and told us where his dots are: a single hike, the “final” one in 2016! This dramatic swing from one of the most hawkish to the most dovish among participants principally reflected a change in the model he was using to to guide his judgment about the appropriate funds rate. In recent talks, he said he was torn between the FOMC’s median path and the market’s path. That has been resolved in favor of the market path. Indeed, his path is now even lower than the market path in 2017 and 2018.