"The Fed still has to follow through to ratify the forward guidance previously given but the effects on the economy and on inflation are already taking hold," St. Louis Federal Reserve Bank President James Bullard said on Monday, per Reuters.

Bullard repeated that the US labor market remains robust and added that the US economy is expected to continue to expand through 2022. 

Market reaction

These comments had little to no impact on the greenback's valuation against its major rivals. As of writing, the US Dollar Index was down 0.25% on a daily basis at 104.40.