Ann: Exploration and Drilling Update, page-64

I think July is backed with 50 points as bare minimum. If they don't do 50 or 75 points in July then FED loses all credibility and god knows what happens next.
Many call for 75points but I really doubt this is possible if economic date continues in same direction which is slowing down. I think prices of many products will start to fall from AUG or thereabouts while energy and food prices will stay higher or go even higher. This will be enough for the FED to pivot as neither oil/gas nor food is included in the inflation number these days.
In short they don't really tame inflation but that can claim to have (fake as everything else) and start QE again. But the interesting bit will start if they have to cut rates later on.. well not if but when. lol

The way I see it the FED can't do both QT and hike as they do now. There is way too much liquidity being drained. I think this will show up first in the REPO market where the FED will be forced to start buying junk bonds in order to unfreeze the credit markets. There is no enough good collateral and primary dealers already refuse to lend so they park their reserves at the FED via reverse-repo trade - if I understand these things right.