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We like to think that when we deposit a dollar at the bank, it goes into a big vault and we can pull out that same dollar at any time. But that¿s not how the U.S. banking system works. Banks take that money and invest it to make money themselves, so cash gets spread around. This, naturally, leads to a big risk: What happens if those investments go sour? Well, you¿d be out of luck. You can¿t get your dollar back.
The Federal Reserve doesn¿t like that scenario, so it prohibits banks from putting all the cash it has on deposit on the line. In fact, the Fed forces banks to keep a portion of their assets at the Federal Reserve itself, to make sure that some of your assets won¿t get squandered if the bank¿s bets go south. These are called ¿reserves,¿ (hence, Federal Reserve. Got it? Good), and usually amount to 10% of the total cash kept in checking accounts.
These reserves are never exactly 10%, and banks like to keep a little extra in reserve ¿ not, as you might think, to make you more comfortable that they¿re in good financial shape, but rather so they can take that excess and lend it to other banks and make money off it. (They¿re banks, they can¿t help themselves.) The rate at which they make these loans is called the Federal Funds rate, which is set by the Federal Reserve¿s Federal Open Market Committee.
When you hear people chattering about how the Fed cut or hiked interest rates, this is what they¿re talking about: the interest rate banks can charge for lending money from their reserves. This begs the question: If these are essentially loans between banks, why is the Fed Funds rate so important for the rest of the economy?
Well, simply put, because loans make the financial world go round. Bank A lends Bank B $10,000 at a Fed Funds rate of 5%. Bank B then lends out $10,000 to a small business at 7%. The small business then takes that money and expands the business and hires new workers. Now someone is employed, Bank B has made interest off the loan, and Bank A is the richer for making it all happen. It¿s perhaps overly simplistic, but you get the idea. When you want the economy to thrive, you make lending cheaper.
Of course, sometimes you don¿t want the economy to thrive. In fact, you might want it to cool down, mostly to avoid money flooding the system and causing inflation. In that case, the Fed raises interest rates, making it difficult to lend or borrow.
Home / Markets / Industries / Health Care
Monday, May 05, 2008
Study Shows Physician Judgment is Important in Reducing Rate of RSV-Related Hospitalizations Among High-Risk Infants
Comtex
HONOLULU, May 5, 2008 (Canada NewsWire via COMTEX News Network) ----
<< Retrospective Chart Review in 10 Geographic Regions throughout the United States Presented at Pediatric Academic Societies (PAS) Annual Meeting >>
MedImmune announced today that the company presented results from a retrospective chart review that evaluated the use of Synagis(R) (palivizumab) as a preventive measure against respiratory syncytial virus (RSV) disease in high-risk infants. RSV is a leading cause of viral respiratory infection among preterm infants.
Approximately 4,000 medical records from premature infants born at 32-to-35 weeks gestational age were reviewed. Fifty percent of those infants received Synagis. RSV prophylaxis was requested, but not administered in about one quarter of these infants. This group was found to have an RSV hospitalization rate of 8.3 percent, which was almost three times the rate of RSV hospitalization among those infants whose physicians did not request RSV prophylaxis (2.9 percent).
"These data support our position that pediatricians should have the final say in the diagnosis and care of their high-risk patients," said Jessie Groothuis, M.D., lead author of the study and MedImmune vice president, medical and scientific affairs, infectious disease. "Our findings indicate that after nearly 10 years of use of Synagis, the clinical judgment and experience of physicians serve to identify infants at high risk of RSV hospitalization, and should be relied upon to ensure patients get proper care."
This retrospective chart review, conducted in 10 geographic regions across the United States, included 376 physicians from 2005 to 2006. Data were presented at a poster session at the Pediatric Academic Societies (PAS) Annual Meeting being held this week in Honolulu, HI.
<< About Synagis >>
Synagis (palivizumab) is indicated for the prevention of serious lung infections caused by respiratory syncytial virus (RSV) in children at high risk of RSV disease. Synagis is given as a shot, usually in the thigh muscle, each month during the RSV season. The first dose of Synagis should be given before RSV season begins. Children who develop an RSV infection while receiving Synagis should continue the monthly dosing schedule throughout the season. Synagis has been used in more than one million children in the U.S. since its introduction in 1998.
Very rare cases ((less than)1 per 100,000 patients) of severe allergic reactions such as anaphylaxis and rare ((less than)1 per 1,000 patients) hypersensitivity reactions have been reported with Synagis. These rare reactions may occur when any dose of Synagis is given, not just the first one. Also, rare but serious side effects can occur, which may lead to unusual bruising and/or groups of pinpoint red spots found on the skin.
Other side effects with Synagis may include upper respiratory tract infection, ear infection, fever, and runny nose. In children born with heart problems, Synagis was associated with reports of low blood oxygen levels and abnormal heart rhythms. Synagis should not be used in patients with a history of a severe prior reaction to Synagis or its components. Side effects, such as, skin reactions around the area where the shot was given (like redness, swelling, warmth, or discomfort) can also occur.
<< Please see complete prescribing information at www.synagis.com. About MedImmune >>
MedImmune strives to provide better medicines to patients, new medical options for physicians and rewarding careers to employees. Dedicated to advancing science and medicine to help people live better lives, the company is focused on infection, oncology, respiratory disease and inflammation, cardiovascular/gastrointestinal disease, and neuroscience. With approximately 3,000 employees worldwide and headquarters in Maryland, MedImmune is wholly owned by AstraZeneca plc (LSE: AZN.L, NYSE: AZN). For more information, visit MedImmune's website at www.medimmune.com.
SOURCE: MedImmune
Tor Constantino, +1-301-398-8501, or Investors, Peter Vozzo, +1-301-398-4358, both of MedImmune Web Site: http://www.medimmune.com, http://www.synagis.com
Copyright (C) 2008 CNW Group. All rights reserved.
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