Republican senators defended Supreme Court justices appointed by President Trump after the court rejected his administration’s plan to impose new screening requirements on mail-in ballots shortly before Election Day. They also backed the Federal Reserve’s independence after it raised interest rates to between 3.75% and 4%, rejecting Trump’s demand for rates of 1% or less. Senators said the ballot changes would have created confusion, while arguing that the Fed was acting within its mandate to contain inflation. Stocks initially fell after the rate decision but rebounded the next day, with the S&P 500 rising 1.14% and the NASDAQ gaining 1.69%. Democrats, including Sen. Elizabeth Warren, criticized the 1% target as unrealistic while inflation remained above the Fed’s 2% goal.