Coronavirus: Trump says Fed not 'aggressive' enough

WASHINGTON - US President Donald Trump accused the Federal Reserve on Saturday of not being"aggressive" enough to counteract the coronavirus-linked economic slump, while insisting he had no plans to replace the bank's president, frequently a target of his criticism.

"And their equivalent of the Fed rate is lower, in some cases by two points. That's a lot," the president said. The Fed last week made an emergency cut in the benchmark borrowing rate, lowering it by a half-point to 1-1.25 per cent to boost confidence amid growing concerns about the damage the virus is inflicting on US and global economies.

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