Resisting tremendous pressure from the Trump administration, the Federal Reserve held its key interest rate steady on Wednesday as two of President Donald Trump’s appointees dissented from the decision and voted for cuts.

Wednesday’s meeting reportedly marks the first time in more than 30 years that two members of the Fed’s seven-member Board of Governors voted against a rate decision at the central bank.

Vice Chair for Supervision Michelle Bowman and board member Christopher Waller “preferred to lower the target range for the federal funds rate by one quarter of a percentage point at this meeting,” according to the Fed’s policy statement.

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