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The Federal Reserve is warning that an escalating trade war would pose a big threat to the economy.But for now, it's sticking with its plan to raise interest rates — whether President Donald Trump likes it or not.In minutes of its most recent meeting, released Wednesday, central bankers warned that a "major escalation" of trade disputes could speed inflation and cause businesses to pull back on investment.Such an escalation could also reduce household spending and disrupt companies' supply chains, participants noted.Some business leaders reported that recent tariff increases have already begun to cause higher prices. Others have reduced or delay investment spending because of uncertainty about future trade policy.Still, some Federal Open Market Committee members noted that most businesses concerned about trade disputes hadn't cut back their spending or hiring, but "might do so if trade tensions were not resolved soon."In the meantime, the central bank is standing by its plan for higher rates as the economy strengthens, according to the minutes.The Fed is expected to raise rates twice more this year, starting in September.The Fed meeting, held July 31 and August 1, was the first after Trump began lashing out at Fed Chairman Jerome Powell for hiking rates. The president told CNBC in July that was "not thrilled" with the Fed's actions.He used similar language on Monday in an interview with Reuters, arguing the central bank should be doing more to help the economy."I should be given some help by the Fed," said the president, who himself appointed Powell to lead the central bank.Presidents have historically avoided commenting on Fed policies. The central bank is designed to be independent from political interference.The Fed's minutes made no mention of Trump's criticism as a factor in its decision-making.Since Trump took office, the Fed has raised rates five times, including twice this year under Powell. The Fed has been carefully and gradually raising rates over the past several years to keep inflation in check and prevent the economy from overheating.After two further rate hikes in 2018, it has penciled in three more rate hikes in 2019.Fed Chairman Jerome Powell told the "Marketplace" radio show in July that he was "deeply committed" to maintaining Fed independence."We do our work in a strictly nonpolitical way, based on detailed analysis, which we put on the record transparently, and we don't take political considerations into account," Powell said in the interview.Powell is expected to speak on Friday at an annual economic symposium in Jackson Hole, Wyoming. 2611

The Food and Drug Administration on Wednesday authorized the first rapid coronavirus test that doesn’t need any special computer equipment to get results.The 15-minute test from Abbott Laboratories will sell for , giving it a competitive edge over similar tests that need to be popped into a small machine. The size of a credit card, the self-contained test is based on the same technology used to test for the flu, strep throat and other infections.It’s the latest cheaper, simpler test to hit the U.S. market, providing new options to expand testing as schools and businesses struggle to reopen and flu season approaches. The FDA also recently greenlighted a saliva test from Yale University that bypasses some of the supplies that have led to testing bottlenecks.Both tests have limitations and neither can be done at home. Several companies are developing rapid, at-home tests, but none have yet won approval. Abbott’s new test still requires a nasal swab by a health worker, like most older coronavirus tests. The Yale saliva test eliminates the need for a swab, but can only be run at high-grade laboratories.And in general, rapid tests like Abbott’s are less accurate than lab-developed tests. The FDA said in a statement announcing the decision that negative results with Abbott’s test may need to be confirmed with a lab test in some cases. The agency granted Abbott’s test an emergency use authorization late Wednesday for patients with suspected COVID-19.The two additions should help expand the number of available tests. The U.S. is now testing about 690,000 people per day, down from a peak of 850,000 daily tests late last month. Many public health experts believe the country will soon need to test vastly more people to find those who are infected, isolate them and contain the virus.The FDA noted that Abbott’s test could be used in a doctor’s office, emergency room or some schools. “Given the simple nature of this test, it is likely that these tests could be made broadly available,” the FDA said.Since the start of the pandemic, nasal swab tests that are sent to a lab have been the standard for COVID-19 screening. While considered highly accurate, the tests rely on expensive, specialized machines and chemicals. Shortages of those supplies have led to repeated delays in reporting results, especially during a spike in cases last month.Government and health experts view rapid tests that can be run outside the laboratory system as key to boosting capacity.“Those screening tests are what we need in schools, workplaces and nursing homes in order to catch asymptomatic spreaders,” said Dr. Jonathan Quick of the Rockefeller Foundation, in an interview earlier this month. The nonprofit group has called for the U.S. to conduct about 4 millions per day by October, mostly rapid, point-of-care tests.Abbott’s BinaxNOW is the fourth rapid test that detects COVID-19 antigens, proteins found on the surface of the coronavirus, rather than the virus itself. It’s considered a faster, though sometimes less precise, screening method. The other tests need to be inserted into a small machine.Inside the Abbott test is a specially coated strip that interacts with COVID-19 antigens. The patient’s nasal swab is inserted into the card and a few drops of a chemical solution are added. Markings appear on the card to indicate whether the sample is positive or negative — much like a pregnancy test.Two other makers of antigen tests — Quidel and Becton Dickinson have said they haven’t been able to meet demand for the tests. A third, LumiraDx, plans to begin shipping its recently approved antigen tests by the end of this month. Abbott expects to begin shipping tests in September, reaching 50 million tests a month in October.The influx of antigen tests will go a long way toward meeting the Trump administration’s projection that 90 million COVID-19 tests a month will be available by September if needed. But U.S. “testing czar” Adm. Brett Giroir has stressed that the U.S. can contain the outbreak with far fewer tests.“That’s the capacity ... we do not need that many tests to safely and sensibly reopen,” Giroir told reporters on a recent call. He pointed to several key indicators that have been falling, including new infections and hospitalizations, even as testing has slowed.Earlier this month, the FDA authorized Yale’s saliva-based test, which is expected to cut the time and cost compared with similar tests. It’s the fifth COVID-19 saliva tests OK’d by regulators. All require lab processing.Developed by Yale’s School of Public Health, SalivaDirect can use any sterile container to collect a sample, not the special tube needed with earlier tests, and requires less chemicals. Outside experts welcomed the new approach but noted its limitations.“It’s not a rapid test, it’s a laboratory-based test that will still be prone to the same massive delays as any other test,” said Dr. Michael Mina of Harvard University.___Follow Matthew Perrone on Twitter: @ AP_FDAwriter.___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content. 5201

The Federal Aviation Administration on Friday ordered new inspection requirements for engines similar to the one that failed earlier in the week on a Southwest Airlines flight, resulting in a passenger's death.The emergency airworthiness directive will require airlines to perform an ultrasonic inspection of certain CFM56-7B engines within 20 days of receipt of the order, it said. Federal safety investigators have said the naked eye cannot detect the cracks and signs of metal fatigue that doomed the engine on Southwest Flight 1380."We are issuing this AD because we evaluated all the relevant information and determined the unsafe condition described previously is likely to exist or develop in other products of the same type design," the directive said.The Southwest Boeing 737 took off Tuesday morning from New York, headed for Dallas. About 20 minutes into the flight, at about 32,500 feet, a fan blade broke off the engine and shrapnel shattered a window.Jennifer Riordan, 43 and a mother of two, was sucked out of the broken window and pulled back inside by fellow passengers. She died from blunt force trauma at a hospital after the plane's emergency landing in Philadelphia.The new inspection is to be done while the engine is on the aircraft's wing. Inspections take between two and four hours per engine, according to the FAA and manufacturer.Friday's announcement came shortly after the engine manufacturer, CFM International, issued a service bulletin recommending the CFM56-7B engine be inspected more frequently. After reaching a certain age, the engines should be inspected approximately every two years, the manufacturer said.The manufacturer told CNN it has been working with the FAA on the inspection procedures.  1749

The city of Albuquerque, New Mexico, is answering calls to "defund the police" by creating a new public safety department that will send unarmed social workers instead of police officers in response to some 911 calls.On Monday, Albuquerque Mayor Tim Keller (D) said his administration would form a new city department, Albuquerque Community Safety, whose personnel would respond to some emergency calls.Albuquerque Community Safety officials will respond to calls of inebriation, homelessness, addiction and mental health. According to Keller's office, the department will be made up of social workers, housing and homelessness specialists, violence prevention and diversion program experts.Officials hope the new department will keep such calls from escalating into violence and will allow police officers to re-focus their efforts to combating and investigating violent crime."We want to send the right resource to the right call," Keller said in a statement. "Especially where a social worker or trained professional can connect people with the services they need, instead of simply taking folks to jail or the hospital, which have been the only choices until now."According to The Washington Post, experts believe that the Albuquerque Community Safety department may be the first of its kind. Though calls to defund police departments have strengthened following the death of George Floyd in May, Keller says the city has been working for two years on to change the way Albuquerque handles some emergency calls.Activists who are calling for cities to defund police departments say that money would be better spent on community outreach. They also say that sending armed police into some emergency situations can escalate situations and lead to violence, especially against racial minorities and people of color.In recent weeks, thousands of protesters have taken to the streets in dozens of major cities, calling for an end to police brutality and systemic racism following the death of George Floyd in Minneapolis.Floyd died in police custody after allegedly using a counterfeit bill to buy tobacco while intoxicated. After handcuffing Floyd, bystander video shows a police officer, later identified as Derek Chauvin, kneeling on Floyd's neck for more than eight minutes. Chauvin has been charged with second-degree murder, and three other officers face charges in connection with Floyd's death. 2412

The coronavirus pandemic may have started earlier than previously thought, according to scientists from the CDC.A study from government scientists published November 30 appears to confirm what some health experts have suggested, patients infected with COVID-19 were in the US before the beginning of 2020.“The findings of this report suggest that SARS-CoV-2 infections may have been present in the U.S. in December 2019, earlier than previously recognized. These findings also highlight the value of blood donations as a source for conducting SARS-CoV-2 surveillance studies,” the report states.The first officially documented case of COVID-19 in the US was reported on January 19, a person who had returned to the US after traveling from China.The World Health Organization was alerted to the novel coronavirus by officials in Wuhan, China on December 31, 2019. The CDC researchers say further reports have identified a patient in Wuhan with COVID-19 symptoms as early as December 1, 2019.The study looked at more than 7,000 routine blood donation samples taken by the American Red Cross from people in nine states between December 13, 2019 and January 17, 2020.They found COVID-19 antibodies in 106 samples, mostly from the states of California, Oregon and Washington, from blood collected between December 13-16, 2019. Other samples that indicated COVID-19 antibodies were from Connecticut, Iowa, Massachusetts, Michigan, Rhode Island, and Wisconsin taken in early January 2020.“The presence of these serum antibodies indicate that isolated SARS-CoV-2 infections may have occurred in the western portion of the United States earlier than previously recognized or that a small portion of the population may have pre-existing antibodies that bind SARS-CoV-2,” the report states.Scientists acknowledge that patients presenting with what is now known as COVID-19 symptoms before mid-January would likely not have had clinical samples taken or kept because of how new the virus was. Therefore, the CDC used the existing repository collected by the American Red Cross during their routine blood donation process.“These specimens were previously archived for potential future studies to identify emerging transfusion-transmissible infections but were re-purposed for the present study,” researchers stated.Researchers caution that these results are subject to limitations. Although they detected antibodies, that does not mean they are “true positive” COVID-19 tests. In order to get a true positive, a different test would need to be a run. 2545