'No magic wand' to tackle high prices, Fed boss says as US interest rates held

The Federal Reserve has held US interest rates steady, keeping them between 3.5% and 3.75% as expected. Federal Reserve officials made this decision in an effort to balance economic growth and inflation control. The Fed boss noted that there is no simple solution to tackle high prices, indicating a complex and ongoing challenge. The decision reflects the Fed's cautious approach to managing the economy amidst persistent inflation concerns.

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