A method for imaging a brain of a subject includes providing a cognitive task for the subject or measuring resting state blood flow without a cognitive task, applying a saturation pulse sequence to saturate a slice within an imaging volume in the subject, and applying an imaging pulse sequence to acquire data from the imaging volume. A saturated image is acquired shortly after termination of the saturation pulse sequence and a non-saturation image is acquired after spins flowing through the saturated slice have recovered. The saturation image and the non-saturation image are subtracted to generate a blood velocity or perfusion enhanced difference image indicating portions of the brain active during the cognitive task. When measuring resting state blood flow without a cognitive task, the method includes acquiring a calibration scan and performing a quantitative evaluation of the blood velocity perpendicular to the saturated slice.