Fed Officials Agreed Rates May Need to Keep Rising

In mid-June, Fed officials observed a strong economy with inflation concerns. They discussed policy firming, considering a 50 or 75 basis point increase to address supply chain and labor issues. Esther George was the only dissenting voice, preferring a smaller increase. Recent weeks have shown inflation easing, but the Fed remains focused on growth and inflation data to guide future policy decisions.

What was Esther George's stance on the proposed 75 basis points increase?

What key reports were anticipated to influence expectations for the July 27th meeting?