A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
Speaking at a post-policy meeting press conference in Frankfurt, Draghi told reporters: "For us, the crisis actually started before Lehman. The first serious signs of an impending crisis actually date back to September 2007."
"What I remember of that incident was the extraordinary effort of international cooperation at world level. In other words, even before Lehman it was quite clear that the financial crisis was coming. And it would have unprecedented proportions and was worldwide," he added.
Draghi's comments come 10 years after Lehman Brothers filed for bankruptcy — a moment many external observers identify as pivotal in the unfolding of the global financial crisis.
The failure of Lehman Brothers in 2008 roiled global markets. It was the fourth-largest U.S. investment bank when it collapsed in September 2008, prompting an erosion of nearly $10 trillion in market capitalization in global equities in the following month.
Draghi was speaking in Frankfurt shortly after the ECB announced interest rates would remain unchanged in September.
The ECB chief reaffirmed his confidence in the regional economy, saying it would most likely be robust enough to absorb spare capacity and generate inflation.
However, he did warn global risks had gained more "prominence" in recent months, amid rising protectionism and financial market volatility.
Draghi also said small cuts had been made to the bank's growth forecasts for this year and next. The central bank now expects growth of 2 percent this year and 1.8 percent in 2019 — slightly lower than previous projections of 2.1 percent and 1.9 percent.
ECB policymakers maintained the bank's forecast of annual inflation at 1.7 percent through to 2020, with Draghi saying this was consistent with the ECB's target of near 2 percent.
Thursday's decision sees the ECB's deposit rate — currently its primary interest rate tool — remain unchanged at -0.4 percent, while the main refinancing rate was held steady at 0 percent.
Holger Schmieding, chief economist at Berenberg Bank, told CNBC on Thursday that there was "no surprise" with the bank's decision.
He added he now expects the bank to raise rates in two steps late next year, in September and December 2019. This would bring the refinancing rate