The Federal Reserve on Wednesday held interest rates steady despite renewed pressure from President Donald Trump to make deeper cuts.

Policy makers unanimously agreed following their two-day meeting in Washington to maintain rates hovering between 1.5% and 1.75% as they pointed to continued signs of a strong economy.

Citing solid job gains and household spending that continues to rise moderately, Fed officials deemed plans to hold rates as “appropriate.” They added that they would continue to monitor sluggish inflation, which has remained stubbornly below the Fed’s target of 2%, and geopolitical risks that could impact the US economy.

The decision to hold had been widely expected by investors after Fed Chairman Jerome Powell described the US economy in a “good place” late last year, and telegraphed plans to move into an extended pause to watch and see how the US economy evolved.