The Federal Reserve kept short-term interest rates at a level of 4.25 percent to 4.5 percent on Wednesday, but the vote saw the first double dissent from Fed board officials in more than 30 years.

The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump made an unusual visit to the central bank, calling for a rate cut. Speaking at a press conference in Washington, D.C., on Wednesday, Fed Chair Jerome Powell advocated for the independence of the Federal Reserve.

The Fed left its benchmark interest rate unchanged following its July policy meeting amid uncertainty over the impact of tariffs on inflation and economic conditions.