Federal Reserve Chairman Ben S. Bernanke said policy must be mindful of the future effects of past interest rate increases while remaining on guard against ``persistently higher inflation.'' ``We must take account of the possible future effects of previous policy actions -- that is, of policy effects still `in the pipeline,''' he said in the text of testimony to the Senate Banking Committee in Washington. ``The extent and timing of any additional firming that may be needed to address inflation risks will depend on the evolution of the outlook for both inflation and economic growth.'' After raising interest rates at every meeting of policy makers for two years, Bernanke now confronts an economy that's slowing, at the same time prices are climbing. Oil surged to a record last week and a government report released less than two hours before his statement showed consumer inflation, excluding fuel and food, rose more than economists forecast in June. ...
http://www.bloomberg.com
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Editor - 07:41:00 07-19-06
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 Alzheimer's Patients May Soon Get 1st Skin Patch to Treat Brain Degeneration |
Alzheimer's patients may soon get the first skin patch to treat the creeping brain degeneration, a novel way to deliver an older drug so that it's easier to take and might even work a little better. The patch, which infuses the drug Exelon through patients' skin, headlines a trio of innovative potential treatments unveiled Wednesday at an Alzheimer's meeting in Spain. Also under study are a prostate cancer drug that may help dementia, too, and an immune therapy to ward off the sticky gunk that is Alzheimer's brain-clogging hallmark. The Exelon patch is furthest in the pipeline, with maker Novartis Pharmaceuticals Corp. poised to seek U.S. sales approval by year's end. "It would be good to have an alternative" to oral medication, Dr. Bengt Winblad of Sweden's Karolinska Institute, who led the patch research, said in a telephone interview. "It's a useful approach, a new treatment strategy that would be very appreciated not only by the patients, but the caregivers." ...
http://abcnews.go.com/US/wireStory?id=2210894
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Editor - 07:38:00 07-19-06
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| First Australians leave E Timor |
Australia has begun withdrawing its troops from East Timor, as the security situation there continues to improve. A warship carrying 250 soldiers left on Wednesday, and four of Australia's eight Black Hawk helicopters are scheduled to follow soon. But a large contingent of peacekeepers is to remain in the country as it tries to recover from the recent unrest. The troops were deployed in May to quell fighting between rival factions of the military. While the Canberra government is planning to gradually scale back its military involvement, it has promised that security in East Timor will not be compromised. More than 2,000 Australian troops and police officers will remain in the capital, Dili, and many are expected to stay until elections are held next year. ...
http://news.bbc.co.uk/2/hi/asia-pacific/5194070.stm
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Editor - 07:35:00 07-19-06
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| The Big Question: Is the current crisis in the Middle East directly connected to Iraq? |
Undoubtedly. The Foreign Secretary, Margaret Beckett, lost her cool during an interview yesterday morning on BBC Radio 4'sToday programme and denied any connection between the latest Middle East flare-up and the Iraqi quagmire. However, Tony Blair was overheard on Monday telling President Bush, in what he thought was a private conversation, that it is "all part of the same thing". In fact, the Prime Minister has always linked Iraq to the broader Middle East conflict. He made it clear before the Iraq invasion in 2003 that a solution to the Israel/Palestine conflict holds the key to undermining support for the global Muslim jihad. Yesterday, he told the Commons: "Hizbollah is supported by Iran and Syria, by the former in weapons, weapons incidentally very similar if not identical to those used against British troops in Basra; by the latter in many different ways; and by both, financially."So what's the connection?...
http://news.independent.co.uk/world/politics/article1185309.ece
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Editor - 07:32:00 07-19-06
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| Bush administration seeks a cease-fire that will last rather than a quick fix. More B S, but some still believe it |
The Bush administration is not yielding to international calls for a prompt cease-fire to end Israel's devastating campaign against Hezbollah militia in Lebanon.Instead, Secretary of State Condoleezza Rice is trying to drum up diplomatic support for what on Tuesday she called a cease-fire of "lasting value." That is, one that would have the Lebanese army take over the south of the country where Hezbollah guerrillas have conducted a cross-border war against Israel for years."The Middle East has been through too many spasms of violence and we have to deal with underlying conditions," Rice said at a news conference.Israel, in the meantime, is predicting its offensive could last for weeks, even as Lebanese and Israeli casualties mount. The Israeli military said early Wednesday it had sent some troops into southern Lebanon searching for tunnels and weapons....
http://www.usatoday.com/news/world/2006-07-19-bush-position_x.htm?csp=34
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Editor - 07:16:00 07-19-06
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| Dozens die in fresh Lebanon raids |
At least 49 civilians have been killed in Israeli air strikes in Lebanon. At least 12 people died and about 30 were wounded in the southern village of Srifa, near Tyre, where residents said several homes were flattened. There was also heavy fighting between Israeli forces and Hezbollah guerrillas on the Lebanese side of the border, with casualties reported on both sides. Israel attacked Lebanon after Hezbollah captured two Israeli soldiers in a cross-border raid a week ago. More than 275 Lebanese - mostly civilians - have been killed since then. Twenty-five Israelis have died, including 13 civilians killed by Hezbollah rocket attacks. ...
http://news.bbc.co.uk/2/hi/middle_east/5193662.stm
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Editor - 07:11:00 07-19-06
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