In this report, a review is made of the mechanism behind the functiona
l MRI (fMRI) signals and the advances made in many different areas of
fMRI. Such areas include understanding and compensating for artifacts
specific to fMRI, postprocessing of fMRI images, the application of fM
RI to areas of interest in neuroscience, some interesting new glimpses
on the frontiers of studying hemodynamics and metabolic responses, an
d the effort to combine fMRI results with magnetoencephalography (MEG)
and electroencephalography (EEG).