Brazil's central bank will hold its benchmark interest rate at a two-decade high of 15% on July 30, according to a unanimous Reuters poll, although economists said it could acknowledge some moderation of inflation expectations.

Powell shook his head, saying, “I haven’t heard that.”

The Trump administration has ramped up its attacks on Fed Chairman Jerome Powell in the past few weeks as the president pushes for lower interest rates.

When Powell fact-checked Trump’s claim that the $2.5 billion price tag had swelled to $3.1 billion, Trump pulled a piece of paper from his suit jacket, handing it to Powell.