WASHINGTON (Reuters) - Federal Reserve officials are unlikely to make any shift to monetary policy this week as they wait for more evidence of how badly Washington's budget battle has hurt the U.S. economy.
Indeed, they could stand pat for the rest of the year.
"I would say January or March at this point," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida, on when the Fed would begin to scale back its bond-buying stimulus. "Odds for December are less than 50/50."
Economic data released since a partial government shutdown ended has been surprisingly weak. Job growth slowed in September, a period that preceded the government's 16-daypartial shutdown, and business investment plans flagged.
Consumer and business confidence could suffer lasting harm after politicians flirted with a debt default by refusing to raise the U.S. borrowing limit until the last moment, in a deal that only postpones the fiscal fight until the new year.
Making matters worse, the shutdown interrupted data gathering in October, muddying the picture for Fed policymakers seeking signs on the economy's strength.
On top of the economic uncertainty, officials may be hesitant to make any dramatic policy shift given the upcoming leadership change at the central bank. President Barack Obama nominated Janet Yellen, the Fed's current vice chair, earlier this month to replace Ben Bernanke as Fed chairman when his term ends in January.
The pending change at the Fed's top dims prospects for any shift in the time-being in its so-called forward guidance on interest rates.
"It is hard to see any compelling reason to change either policy or even to make major changes to the statement," said Dean Maki, chief U.S. economist at Barclays in New York.
The central bank's policy-setting committee is to release a statement on its policy decision on Wednesday, at the end of its two-day meeting, at 2 p.m. (1800 GMT).
NO STRONG VIEWS
The Fed stunned markets in September when it opted against slowing its bond buying from the current monthly pace of $85 billion. It had announced in June that it expected to begin reducing the program before the end of the year with an eye toward shuttering it altogether by mid-2014.
Signs of economic softness since the September meeting have vindicated the Fed's caution, and economists now think officials will wait until next year to ensure a recovery is in full swing.
"The Fed likely doesn't have a strong view on when tapering will occur at this point. They'll want to see how the shutdown affects the fourth quarter, as well as a couple more payroll reports," said Maki, who has pushed his taper call to March from December.
To spur growth and hiring, the Fed has held overnight rates near zero since late 2008 and has also quadrupled its balance sheet to around $3.7 trillion through three massive rounds of bond buying in a further effort to keep borrowing costs low.
The Fed has promised not to raise rates until unemployment drops to at least 6.5 percent, provided inflation looks set to stay under 2.5 percent. The jobless rate stood at 7.2 percent in September.
These thresholds are supposed to stop borrowing costs from rising rapidly once the Fed begins reducing its bond purchases.
But they did not look to be working very well over the summer, when financial markets pulled forward expectations for the first rate hike into 2014 after Bernanke said the central bank could soon begin to trim its buying.
LIFT-OFF
Minutes of the Fed's September meeting showed officials had discussed strengthening the forward guidance, either by lowering the unemployment threshold, or promising not to raise rates if the inflation outlook was beneath a certain floor.
But the minutes also showed that officials debated whether revised guidance would be credible ahead of the looming transition at the Fed's helm, implicitly acknowledging that commitments made by Bernanke might not be seen as binding on his successor.
Since the September meeting, expectations for the first rate hike have been pushed to April 2015 at the earliest, which lessens any pressure policymakers may have felt to change the guidance.
Markets now price overnight rates in January 2016 at 0.685 percent, down from 0.895 percent a month ago. At the same time, mortgage rates have declined and yields on 10-year U.S. Treasuries are down to 2.5 percent from almost 3.0 percent in early September.
"The market is not strongly at odds with what Fed officials themselves are signaling for the path for rate hikes, so their need to do a change right now is not that strong," said Michael Hanson, senior economist with Bank of America Merrill Lynch.
Twelve of the 18 Fed officials at the September meeting believed the first rate hike shouldn't come until sometime in 2015.
(Reporting by Alister Bull; Editing by Tim Ahmann and Leslie Adler)
If you're a user of the Buffer app for cross-posting to various social networks, be aware that the service got hacked today, with spam messages going out over Facebook. The ability to post has been revoked, and the spam appears to no longer be accessible.
As you can see from the image above, the spam was of the "Lose weight now!" variety. (And do us a favor and don't go venturing to that link in our picture, m'kay?) Buffer bosts some 1.08 million users on its home page, with more than 98 million updates posted.
Buffer founder and CEO Joel Gascoigne — that's his name you see on e-mails from Buffer — confirmed the hack on Twitter.
New microscopes at NIH reveal live, developing cells in unprecedented 3-D clarity
PUBLIC RELEASE DATE:
25-Oct-2013
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Contact: Jessica Meade nibibpress@mail.nih.gov 301-496-3500 NIH/National Institute of Biomedical Imaging & Bioengineering
Biology moves into the third dimension, may help observe how a brain develops and viruses attack
Researchers at NIH have developed two new microscopes, both the first of their kind. The first captures small, fast moving organisms at an unprecedented rate and the second displays large cell samples in three dimensions while decreasing the amount of harmful light exposure to the cells. Both microscopes surpass in clarity any other currently on the market.
The first microscope allows researchers to obtain fast moving images at double the spatial resolution of a conventional microscope. This provides a vastly clearer picture, enabling cell components that were once quite blurry to now become sharply defined; the difference is similar to that of a 1990's-era standard TV set versus today's high-definition TVs. The microscope is also 10 to 100 times faster than traditional technologies.
"It's always helpful to look at smaller and smaller things," said Hari Shroff, Ph.D., at NIH's National Institute of Biomedical Imaging and Bioengineering (NIBIB) lab chief of NIBIB's section on High Resolution Optical Imaging (HROI.) "Looking at a fixed cell at high resolution can tell you where different parts of the cell are at any given moment; but because much of biology depends on the movement of very small proteins finding each other and interacting, we really needed to look at how things move in a live cell."
The problem is that the higher the resolution, the harder it is to eliminate the blur from both light diffraction (the glow that sometimes occurs as light bends around objects) and the motion going on inside the live cell. Traditional linear structured illumination microscopy (SIM) cannot maintain the high resolution desired by researchers when the sample is moving quickly.
Shroff and his research fellow Andrew York, Ph.D., found an answer to these problems with their new instant linear structured illumination microscopy (iSIM), described in a paper published in Nature Methods on October 6th. Building on traditional SIM technology, the iSIM allows real-time, 3-D super resolution imaging of small, rapidly moving structuressuch as individual blood cells moving through a live zebrafish embryo. This kind of imaging is impossible with other microscopes; the ones that are fast enough to record rapid movement do not have a high enough resolution to see inside the cells; and other microscopes with similar resolution are just too slow to capture that amount of motion clearly.
If a photographer wants to take a better photograph, he can either buy a camera with a better lens and higher pixels or he can modify the picture after it's taken, using Photoshop. The principle is similar in microscopy. Instead of approaching the problem by creating better imaging software that helps to increase the resolution after the fact, as most high resolution microscopes do, Shroff and his lab developed a microscope with better lenses and mirrors so that the higher resolution is captured in the original image.
"What we've essentially done is eliminate the need for extensive computer processing by creating a better microscope at every stage of data gathering," said Shroff. "Before, we relied on computer software and algorithms to do things like sort through hundreds of images, eliminate out of focus light, and combine the individual images together. Now, we can do most of that optically with the microscope itself." This means that researchers can skip the time-consuming steps in which computers process the massive amounts of data normally required for such high resolution imaging. Now they will be able to see the images instantly instead of waiting hours or sometimes days, and the data itself takes about 1% of the hard drive space as that produced by previous microscopes.
The second microscope, described in a paper published in Nature Biotechnology online on October 13, builds on selective plane illumination microscopy (SPIM). Traditional microscopes expose the whole sample to light even though they are only imaging one small section at a time. However, just as the sun can damage skin cells, too much light exposure can damage or even kill biological samples like embryos. SPIM uses a thin beam of light to illuminate only the single plane that is currently being imaged so the biological sample is not damaged by overexposure to light. However, the technology is limited because looking at a 3-D object from only one point of view does not provide a complete representation of the object -- in the same way that viewing a globe from one perspective gives no information about what is on the other side of the world. Traditionally, SPIM microscopes rotate the sample so that they can clearly see all the dimensions, but this severely limits the imaging speed and can increase the damage done to the cells from light exposure because of the many extra images taken at multiple angles. As a result imaging is also slowed down, and the ability to capture much of the fast moving cellular motion is lost.
In order to combat this problem, Shroff and NIBIB staff scientist Yicong, Wu, Ph.D., developed a dual-view SPIM (diSPIM) microscope with two separate detection cameras. The cameras are set at a 90 degree angle to capture perpendicular views of the sample. This perpendicular view results in undistorted 3-dimensional images, and since only two views are acquired, the microscope can still capture events at very high speed. Additionally, with relatively simple modifications, traditional single camera SPIM microscopes can be converted into the dual-camera diSPIM. The real challenge in developing this technology was to find a way to combine the two disparate images from the two cameras, which required the creation of a new post-processing software algorithm.
The increased speed at which the new dual microscope can image the cells allows for clearer images of even very fast moving viruses. Being able to see how a virus enters a cell, and once it's in, how it moves around, could go a long way towards scientists' understanding of how infections occur and potentially how to fight them more effectively. In the same way, observing the migration of cancer cells in a 3-D environment could unlock information on how cancer grows, finds nutrients, and spreads.
"Biology is three-dimensional, not two dimensional. The nucleus of a cell is spherical, not circular, and as scientists, it's up to us to find ways to observe cells as accurately as possible, Shroff said. "We're really moving biology into the third dimension with this microscope." There's a lot of attention right now on how neurons fire and interact with each other, but the truth is, we don't even understand how a brain developseven in the most simple of organisms like C. elegans, a worm with only 300 brain cells. We don't know why brain cells go where they do or what determines their organization. We can't understand more about this process without observing it, and that's something that these devices can help to provide."
The Shroff lab has already begun multiple collaborations with biological labs both inside the NIH as well as external institutions, including Yale, Sloan Kettering, and the University of Connecticut Health Center.
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New microscopes at NIH reveal live, developing cells in unprecedented 3-D clarity
PUBLIC RELEASE DATE:
25-Oct-2013
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]
Share
Contact: Jessica Meade nibibpress@mail.nih.gov 301-496-3500 NIH/National Institute of Biomedical Imaging & Bioengineering
Biology moves into the third dimension, may help observe how a brain develops and viruses attack
Researchers at NIH have developed two new microscopes, both the first of their kind. The first captures small, fast moving organisms at an unprecedented rate and the second displays large cell samples in three dimensions while decreasing the amount of harmful light exposure to the cells. Both microscopes surpass in clarity any other currently on the market.
The first microscope allows researchers to obtain fast moving images at double the spatial resolution of a conventional microscope. This provides a vastly clearer picture, enabling cell components that were once quite blurry to now become sharply defined; the difference is similar to that of a 1990's-era standard TV set versus today's high-definition TVs. The microscope is also 10 to 100 times faster than traditional technologies.
"It's always helpful to look at smaller and smaller things," said Hari Shroff, Ph.D., at NIH's National Institute of Biomedical Imaging and Bioengineering (NIBIB) lab chief of NIBIB's section on High Resolution Optical Imaging (HROI.) "Looking at a fixed cell at high resolution can tell you where different parts of the cell are at any given moment; but because much of biology depends on the movement of very small proteins finding each other and interacting, we really needed to look at how things move in a live cell."
The problem is that the higher the resolution, the harder it is to eliminate the blur from both light diffraction (the glow that sometimes occurs as light bends around objects) and the motion going on inside the live cell. Traditional linear structured illumination microscopy (SIM) cannot maintain the high resolution desired by researchers when the sample is moving quickly.
Shroff and his research fellow Andrew York, Ph.D., found an answer to these problems with their new instant linear structured illumination microscopy (iSIM), described in a paper published in Nature Methods on October 6th. Building on traditional SIM technology, the iSIM allows real-time, 3-D super resolution imaging of small, rapidly moving structuressuch as individual blood cells moving through a live zebrafish embryo. This kind of imaging is impossible with other microscopes; the ones that are fast enough to record rapid movement do not have a high enough resolution to see inside the cells; and other microscopes with similar resolution are just too slow to capture that amount of motion clearly.
If a photographer wants to take a better photograph, he can either buy a camera with a better lens and higher pixels or he can modify the picture after it's taken, using Photoshop. The principle is similar in microscopy. Instead of approaching the problem by creating better imaging software that helps to increase the resolution after the fact, as most high resolution microscopes do, Shroff and his lab developed a microscope with better lenses and mirrors so that the higher resolution is captured in the original image.
"What we've essentially done is eliminate the need for extensive computer processing by creating a better microscope at every stage of data gathering," said Shroff. "Before, we relied on computer software and algorithms to do things like sort through hundreds of images, eliminate out of focus light, and combine the individual images together. Now, we can do most of that optically with the microscope itself." This means that researchers can skip the time-consuming steps in which computers process the massive amounts of data normally required for such high resolution imaging. Now they will be able to see the images instantly instead of waiting hours or sometimes days, and the data itself takes about 1% of the hard drive space as that produced by previous microscopes.
The second microscope, described in a paper published in Nature Biotechnology online on October 13, builds on selective plane illumination microscopy (SPIM). Traditional microscopes expose the whole sample to light even though they are only imaging one small section at a time. However, just as the sun can damage skin cells, too much light exposure can damage or even kill biological samples like embryos. SPIM uses a thin beam of light to illuminate only the single plane that is currently being imaged so the biological sample is not damaged by overexposure to light. However, the technology is limited because looking at a 3-D object from only one point of view does not provide a complete representation of the object -- in the same way that viewing a globe from one perspective gives no information about what is on the other side of the world. Traditionally, SPIM microscopes rotate the sample so that they can clearly see all the dimensions, but this severely limits the imaging speed and can increase the damage done to the cells from light exposure because of the many extra images taken at multiple angles. As a result imaging is also slowed down, and the ability to capture much of the fast moving cellular motion is lost.
In order to combat this problem, Shroff and NIBIB staff scientist Yicong, Wu, Ph.D., developed a dual-view SPIM (diSPIM) microscope with two separate detection cameras. The cameras are set at a 90 degree angle to capture perpendicular views of the sample. This perpendicular view results in undistorted 3-dimensional images, and since only two views are acquired, the microscope can still capture events at very high speed. Additionally, with relatively simple modifications, traditional single camera SPIM microscopes can be converted into the dual-camera diSPIM. The real challenge in developing this technology was to find a way to combine the two disparate images from the two cameras, which required the creation of a new post-processing software algorithm.
The increased speed at which the new dual microscope can image the cells allows for clearer images of even very fast moving viruses. Being able to see how a virus enters a cell, and once it's in, how it moves around, could go a long way towards scientists' understanding of how infections occur and potentially how to fight them more effectively. In the same way, observing the migration of cancer cells in a 3-D environment could unlock information on how cancer grows, finds nutrients, and spreads.
"Biology is three-dimensional, not two dimensional. The nucleus of a cell is spherical, not circular, and as scientists, it's up to us to find ways to observe cells as accurately as possible, Shroff said. "We're really moving biology into the third dimension with this microscope." There's a lot of attention right now on how neurons fire and interact with each other, but the truth is, we don't even understand how a brain developseven in the most simple of organisms like C. elegans, a worm with only 300 brain cells. We don't know why brain cells go where they do or what determines their organization. We can't understand more about this process without observing it, and that's something that these devices can help to provide."
The Shroff lab has already begun multiple collaborations with biological labs both inside the NIH as well as external institutions, including Yale, Sloan Kettering, and the University of Connecticut Health Center.
###
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Share
]
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
WASHINGTON (AP) — For nearly five years, Republicans have struggled to make a scandal stick to President Barack Obama's White House. One by one, the controversies — with shorthand names such as Solyndra, Benghazi, and Fast and Furious — hit a fever pitch, then faded away.
But some Republicans see the disastrous rollout of Obama's health law as a problem with the kind of staying power they have sought.
The health care failures are tangible for millions of Americans and can be experienced by anyone with Internet access. The law itself is more closely associated with Obama personally and long has been unpopular with the majority of the American people.
The longer the technical problems persist, the more likely they are to affect the delicate balance of enrollees needed in the insurance marketplace in order to keep costs down.
"There's no question the issue has legs, in part because it affects so many Americans very directly and in part because the glitches with the website are simply one of many fundamental problems with this law," GOP pollster Whit Ayres said.
The cascade of computer problems began Oct. 1, when sign-ups opened for the marketplaces at the center of the law. Administration officials blamed the problems on high volume, but have since acknowledged more systemic issues with HealthCare.gov.
White House officials contend the website is just one piece of the broader law offering an array of benefits. They say that when the online issues are fixed — the latest estimate is the site will be working normally for most users by the end of November — few people will remember the problems that have marred the opening weeks of the six-month enrollment window.
"It says a lot about Republicans that their focus here is not on helping Americans get insured, but on making political hay of this mess," said Dan Pfeiffer, Obama's senior adviser.
There's another mess the White House is dealing with that could have long-lasting implications, too: U.S. government spying on foreign leaders. The scope of the surveillance programs was first made public in June and the revelations keep coming. The latest concern the alleged monitoring of German Chancellor Angela Merkel's cellphone communications.
But unlike with the health law, many Republicans support the government surveillance policies, making it more difficult for the party to create a political furor over the revelations.
For GOP lawmakers, the White House's stumbles on the Affordable Care Act have come at an optimal time, just one week after their strategy to shut down the government in exchange for concessions on health care imploded.
The health care debacle has overshadowed some of the Republican missteps and the GOP appears more than happy to keep the spotlight where it is.
Republicans have scheduled a series of congressional hearings on the program's shortcomings, and have called for officials, including Health and Human Services Secretary Kathleen Sebelius, to be fired. She is set to testify this coming week before a House committee.
Kevin Madden, a GOP strategist, said Republicans should be wary of overreach, and he urged the party to "focus on the basics" in the hearings. If they do, he said, "they can really align themselves with a lot of public anxiety about what's wrong with Washington."
Anxiety about the website's problems also appears to be on the rise among members of the president's own party, a worrisome sign for the White House.
Ten Democratic senators urged Sebelius in a letter to extend the insurance enrollment window beyond the March 31 deadline; White House officials say they don't believe that will be necessary. Also, Democratic leaders have been critical about the seeming lack of preparedness for the sign-up rollout.
"As far as I'm concerned there is no excuse for that," Senate Majority Leader Harry Reid, D-Nev., told Las Vegas radio station KNPR. "I think the administration should have known how difficult it was going to be to have 35 million or 40 million people to suddenly hook up to a place to go on the Internet."
The health care law has been unpopular with large swaths of the American public ever since Obama signed it into law in 2010. A CBS News survey taken last week found that 43 percent of Americans approve of the law, compared with 35 percent in May.
Crisis management expert Eric Dezenhall said that if the White House wants to prevent the current troubles from being a long-term problem, it will have to do some basic damage control.
"There has to be a component of hand-holding, clarity and bedside manner with the early stages of Obamacare," he said.
The White House appeared to start taking a page from that playbook this past week.
On Thursday, the Centers for Medicare and Medicaid Services began holding daily briefings to address technical problems with the website, though the many of the issues still remain shrouded from the public.
Republicans are turning to a familiar tactic, congressional hearings. It's the same tactic they took as they looked to connect Obama to wrongdoing in the deaths of Americans in Benghazi, Libya, the bankruptcy of the solar energy company Solyndra, the Bureau of Alcohol, Tobacco, Firearms and Explosives' failed gun-smuggling sting operation known as "Fast and Furious," and a number of other problems that have arisen since the president took office.
"This is more than a website problem. We are also concerned about what happens next," GOP Rep. Fred Upton of Michigan, chairman of the House committee that will hear from Sebelius on Wednesday, said in the Republicans' weekly radio and Internet address.
Dezenhall said that while investigations may help Republicans do some damage to the health care law, "there's a difference between roughing up your enemy and defeating them."
"They can certainly put some points on the board but I don't see a great Republican coup anytime soon," he said.
___
AP News Survey Specialist Dennis Junius contributed to this report.
___
Online:
Health care site: https://www.healthcare.gov
___
Follow Julie Pace at http://twitter.com/jpaceDC and Nancy Benac at http://twitter.com/nbenac
The British government has told a pub in the village of Stilton that it can't call its cheese Stilton. The name is protected by a law that says true Stilton cheese can come from three specific regions — not Cambridgeshire, where Stilton is located. The pub's landlord is weighing his legal options.
Good morning. I'm David Greene. In the British village of Stilton they've made a cheese called Stilton since the 18th century, a tradition as old as our country. But in Britain, a couple of centuries - whatever. The government has told a pub in Stilton that it can't call its cheese Stilton.
The name is protected by EU law which says true Stilton cheese can come from three specific regions - not Cambridgeshire, where Stilton is located. The pub's landlord is weighing his legal options. He could cause a stink. It's MORNING EDITION.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.
MMAFrenzy’s live fight coverage of WSOF 6 concludes with our coverage of tonight’s inaugural title fight between Josh Burkman and Steve Carl. The two welterweights would battle it out in the decagon but in the end it would be Carl who walked away with the title.
While all the talk of the WSOF welterweight title seemed focused on Burkman and Jon Fitch, it would be Steve Carl who walk away with the belt tonight in Coral Gables. Carl was tenacious tonight against the favored Burkman and he ended up finding his advantage on the ground in the later rounds. Burkman certainly had his moments early in the fight and seemed to be getting back on track in the third.
Carl would finish the fight early in the fourth round after bailing on a takedown attempt and pulling guard. Carl quickly went to work with a triangle attack and while Burkman appeared to start tapping, the referee did not stop the fight until Burkman went to sleep. Carl is the promotion’s first ever champion and has now won seven straight fights.
Play-by-Play:
Rd. 1- Touch of gloves and we’re off. Carl is pressuring early on but Burkman starts firing back with hard kicks. Carl catches a kick and looks for a takedown against Burkman. Burkman turns the tables and lands a takedown of his own but Carl works back up. Burkman is landing that low kick and Carl fires a switch head kick but Burkman blocks it. Carl presses for a takedown and Burkman again gets him down. Hard elbow by Burkman in the guard and he passes to half guard off it. Carl recovers guard and Burkman lands a big punch as Carl tries to push away. Carl threatens with an arm bar and a toehold but Burkman fends it off. Burkman in half guard but Carl escapes as the round ends. 10-9 Burkman.
Rd. 2- Carl opens up the action with kicks and then he drops to single. Burkman attacks with a guillotine but Carl backs out and pulls guard to attempt a triangle. Burkman stands and kicks the legs of Carl before making him stand. Burkman lands a right and Carl responds in kind. Legkick by Burkman and he tags Carl as he shoots in. Burkman is scoring with the leg kick despite Carl checking them. Takedown by Carl into half guard and he lands some good strikes here. Burkman tries to control hands to stand but Carl recognizes and briefly has mount. Carl tees off but Burkman recovers. Hard shots by Carl now in the half guard of Burkman and he starts throwing some knees to the body now. Carl is now looking for a D’arce choke and almost has it but he scrambles into mount and tees off on Burkman as the round ends. Big round for Carl 10-9. (19-19)
Rd. 3- Headkick by Carl to start the round. Front kick to the face by Carl and he attacks with a single leg. Burkman again looks for a guillotine but Carl scrambles out and lands a nice back trip into side control. Carl has full mount now and Burkman is in trouble here. Carl looks for the arm bar but takes Burkman’s back and he has a tight one armed choke that he is gripping on the shoulder. Carl has to give it up to save position but Burkman’s face was beet red. Burkman with a single leg and he changes to a Peruvian necktie and he switches to a guillotine and sweeps to mount. Carl is fighting hands and breaks free. Elbow by Burkman but Carl secures an escape and goes for a takedown and get caught in another guillotine. Carl bails to avoid the sub and the round ends with Burkman on top. MMAFrenzy has it 10-9 Burkman but it is close.
Rd. 4- Touch of gloves to start the round. Carl with a takedown into side control and he sets up a Peruvian necktie but misses it. Carl with a deep triangle choke and Burkman starts to tap but ref doesn’t see it and Burkman then goes out.
Steve Carl def. Josh Burkman via technical submission (triangle choke) at 1:02 of Round 4
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