Signs of lower inflation and weaker job reports are likely to give the Fed reason to delay any changes in its monetary policy. This Washington Post article
has a good overview of this. Here are a few excerpts:
Consumer prices fell 0.2 percent in May, the Labor Department said Thursday. The department said Wednesday that wholesale prices fell 0.3 percent.
As for monetary policy, the Fed is likely to keep its target for short-term interest rates unchanged near zero and restate its intention to leave rates low for an extended period, even as it readies plans to abandon that stance in the future.