Here is a fairly clear picture from the CDC of the impact of vaccination on infections (cases), Hospitalizations and Deaths, through July. You can see here that infections are increasing for vaccinated people, hospitalizations and deaths are increasing also, but to a much lesser degree. In all cases, the fully vaccinated people are experiencing infections, hospitalizations, and deaths at a much lower level than the Not Fully Vaccinated people.
That is the message we keep hearing, but I find that this picture tells the story better than the words.
I hope that the CDC is able to update these graphs for August experience because in August, we saw a very sharp rise in total cases as the delta variant took over.