"We need to frontload rate hikes, get inflation under control in short order," St. Louis Federal Reserve Bank President James Bullard said on Friday, as reported by Reuters.

Bullard further argued that the market is fully pricing in the idea that the Fed will get rates to 3.5% by the end of the year and added that it is hard for them to interpret the inflation expectations surveys.

Market reaction

These comments don't seem to be having an impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was little changed on the day at 104.35.