Under normal circumstances, a pair of dissents in favor of a rate cut would be taken as a sign the Fed is taking a dovish turn, Tom Essaye, editor of Sevens Report Research, wrote in a Tuesday note. It would be signal that policymakers are moving in favor of easing, making a reduction at the next meeting a more likely event.

President Trump has kept up his campaign for Federal Reserve Chair Jerome Powell to lower rates despite saying there was "no pressure."

Sweeping changes are coming to the world’s most powerful central bank, President Donald Trump and his top advisers have said — and they’re already starting to make good on that promise.