Despite pressure from President Donald Trump to lower interest rates, the Federal Reserve on Wednesday left rates unchanged.

The central bank maintained its target range for the federal funds rate at 4.25% to 4.50%—1 percentage point lower than a year ago, when rates stood at a 23-year high.

The decision came after a two-day meeting to assess the state of the U.S. economy.

In a statement, the Fed said: “The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen.”

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