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The P1416 is what has turned on your CHECK ENGINE light.
On start up the AIR pump is commanded ON to help with meeting EPA pollution rules. The P1416 indicates that the O2 sensor on one side of your engine did not respond to the AIR pump input.
Either you have a hose that has come loose, or a check valve in the AIR system has failed.
This is a pollution control issue, should not affect the day-to-day operation of your engine.
The 1416 is the code that turned on the light. The AIR system is faulting. Since it is only 1416, it is likely the check valve. I think 1416 is bank 2, which unfortunately is behind the head. This system tests the O2 sensors on cold start, no issues driving the car like this.
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