Headline News from The Associated Press
AP Headline News - Apr 16 2024 18:00 (EDT)
AP News, I'm Ben Thomas. The Supreme Court heard 90 minutes of arguments today over whether federal prosecutors went too far in bringing obstruction charges against participants in the January 6th Capitol riot. Mark Sherman reports it was not immediately clear which way the court's leaning. The justices had tough questions for the Justice Department about whether the law which was adopted in the wake of the N-Rine financial scandal more than two decades ago can be used against January 6th defendants. The government has so far charged about 330 people with obstructing an official proceeding for their role in the January 6th riot. Former President Trump faces the same charge for his efforts to overturn his 2020 election loss. Trump was back in cordon Manhattan today for day two of his hush money trial. The first six jurors were selected. On Capitol Hill House managers walked two articles of impeachment against Homeland Security Secretary Alejandro Mayorkas over to the Senate. That forces a trial Democrats are expected to try to dismiss or table the charges before arguments start. Attorney General Merritt Garland appeared before a House committee that oversees funding for the Justice Department he was asked about special counsel Robert Herr's report into President Biden's handling of classified material and Herr's observations about the president's memory. I have watched him expertly guide meetings of staff and cabinet members on issues of foreign affairs and military strategy and policy. The president made a campaign appearance in Pennsylvania today, pitching his plan for higher taxes on the wealthy. Folks trickle down economics failed the middle class. It failed America and the truth is Donald Trump embodies that failure. He wants to double down on trickle down. This is AP News. Federal Reserve Chair Jerome Powell says elevated inflation will likely delay interest rate cuts. We've said at the FOMC that we'll need greater confidence that inflation is moving sustainably toward two percent before it be appropriate to ease policy. He spoke at the Stanford Graduate School of Business. Damian Troyce has some reaction in the AP markets report. Stocks mostly fell on Wall Street under pressure again from rising treasury yields. The S&P 500 fell 0.2 percent. The Dow Jones Industrial Average rose 0.2 percent and the Nasdaq fell 0.1 percent. United Health helped support the market after jumping on a stronger than expected profit report. But the majority of stocks weakened after two top officials at the Federal Reserve warned it may not cut interest rates for a while after inflation reports this year came in worse than expected. Two-year treasury yield briefly climbed as high as 5 percent before pairing its gain. Damian Troyce New York. I'm Ben Thomas, AP News.