Headline News from The Associated Press
AP Headline News - Apr 16 2024 20:00 (EDT)
Ify News, I'm Ben Thomas. Stubborn inflation numbers are putting interest rate cuts on hold. Shelley Adler has details. Federal Reserve Chair Jerome Powell says persistently elevated inflation will likely delay any Fed interest rate cuts until later this year. The recent data have clearly not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. The remarks at the Wilson Center in Washington are a shift for Powell, who on March 7th told the Senate Committee that the Fed was "not far from gaining the confidence it needed to cut rates," but at a news conference on March 20th, Powell appeared to downplay that assertion. One analyst said Powell's comments make it clear the Fed is now looking past June when it comes to rate cuts. I'm Shelley Adler. The International Monetary Fund's upgraded its outlook for the global economy, now forecasting 3.2 percent growth this year. In Donald Trump's hush money trial, the first seven jurors have now been seated. Meantime, Mark Sherman reports the Supreme Court heard arguments over whether federal prosecutors have gone too far in charges against capital rioters. It wasn't immediately clear in more than 90 minutes of arguments exactly how the court would come out. There were some justices on the conservative side of the court who seemed to favor a broad ruling that might prohibit the government from using the charge at all against January 6th defendants. Another possibility is that the court could take a more measured approach and require lower courts to evaluate on a case-by-case basis. House Speaker Mike Johnson is facing a revolt from hard-right Republicans, but following the move ahead with aid for Ukraine and other allies. In campaigning in Pennsylvania, President Biden says he and Donald Trump have different visions for the economy. Where we come from matters. When I look at the economy, I don't see it through the eyes of Marilago, I see it through the eyes of Scranton, and that's not hyperbole. This is AP News. Twenty-five works deemed important to American culture have been added to the National Recording Registry. Marti Zarleda's had a look at the list. "Rude off the red nose." The Library of Congress has determined Jean Autry's version of "Rude off the red nose reindeer" is worthy of preservation. It's one of 25 recordings that is entering the National Recording Registry because of its cultural or historical importance. "You women have heard of the lobby." Among the singles to enter the registry is "Rockin' 88" by Jackie Brenston and his Delta Cats, sometimes credited as the first rock-and-roll record. Other singles include Bobby McFerrins, "Don't Worry Be Happy," "Paddy Pages," "The Tennessee Waltz," and "Chances Are" by Johnny Mathis. "White Opens." The chicks' wide-open space's album is on the registry, so is Green Day's "Dooky" and the notorious B.I.G.'s "Ready to Die." Lily Tomlin's 1971 comedy album "This Is a Recording" is the only non-music recording to make the list. I'm Archie Zara-Letta and I'm Ben Thomas, CP News. And I'll see you next time.