CDC, FDA accelerate coronavirus treatment approvals: Kudlow

Measures 'will allow great American science and biotechnology to run as fast as it can'

Both the Centers for Disease Control and Prevention and the Food and Drug Administration are speeding up the approval process for experimental drugs in order to obtain a treatment for the COVID-19 coronavirus as quickly as possible, Trump administration adviser Larry Kudlow said Friday.

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"It’s the sort of deregulatory measure that will allow great American science and biotechnology to run as fast as it can to get engaged in this thing as much as needed," even though health experts believe the risks are low, Kudlow, director of the National Economic Council, told FOX Business’ Stuart Varney on Friday.

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As for the impact on the U.S. economy, Kudlow says supply chain problems are "not yet surfacing" and real-time economic numbers are "holding up nicely." He noted that weekly jobless claims remain at "rock bottom" and that the Atlanta Fed's GDPNow forecast was indicating 2.7 percent first-quarter growth on Feb. 27.

“The president acted early, making smart moves, travel bans, quarantines where necessary, convening meetings here in the White House twice a day for many, many weeks, an extended task force," Kudlow said.

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"We have been all over this," he added. "And again, there's nothing more serious or higher priority than protecting the health and safety and security of the American people.”