President Donald Trump speaks speaks on the latest developments of the coronavirus outbreak, while flanked by White House coronavirus response coordinator Debbie Birx (L), and U.S. Surgeon General Jerome Adams (R), in the James Brady Press Briefing Room at the White House March 19, 2020. (Photo by Chip Somodevilla/Getty Images)
President Donald Trump in a press conference on Thursday said the Food and Drug Administration is fast-tracking efforts to approve an antiviral therapy, best known for treating malaria, for use in coronavirus cases.
The drug, hydroxychloroquine, was developed more than a half-century ago and is approved for treating malaria, arthritis, and other ailments. Reports out of China and Italy suggest the drug may help, but there is no hard data yet.
"We're going to be able to make that drug available almost immediately," Trump said.
The FDA is working to conduct a "large, pragmatic clinical trial" quickly to confirm the drug's benefit to coronavirus patients, said Commissioner Dr. Stephen Hahn.
He also tempered the president's optimism about the still-untested solution.
"What's also important is not to provide false hope," he said. "We may have the right drug, but it might not be in the appropriate dosage form right now, and it might do more harm than good."
New antiviral therapies face a shorter and less arduous approval process than vaccines, several of which are under development with 12 to 18-month timelines.
"The therapies are something we could move on much faster potentially," Trump said.
He claimed the administration "slashed red tape" to develop new vaccines and therapies.
The president also held out on confirming whether he would invoke the Defense Production Act, which he signed on Wednesday, to mandate the production of needed medical supplies such as N95 respirators and surgical masks.
"If we find that we need something, then we will do that," he said.
Trump repeated that he was open to the federal government buying equity stakes in the airline, cruise, hospitality, and other industries hurt by the outbreak.
The press conference opened with more controversial language placing the blame squarely on China for the outbreak, despite concerns voiced about potentially exacerbating a backlash against Asian Americans.
"We continue our relentless effort to defeat the Chinese virus," Trump said.
Almost 2 years into the pandemic, supply chain woes continue to wreak havoc on our everyday lives.
From groceries to chip shortages, both consumers and retailers are feeling the strain with prices only climbing as a result. Data intelligence company Morning Consult is out with its U.S. Economic Outlook for November revealing just how much of a threat these hold-ups could pose to the greater economic recovery. John Leer, Chief Economist at Morning Consult joined Cheddar's Opening Bell.
After many years and at least two presidents hoping to overhaul America's infrastructure, congress finally came to an agreement. The House passed the bipartisan infrastructure bill late Friday, receiving thirteen republican votes but failing to earn votes from the six progressive squad members. Joseph Zeballos-Roig, Economics Reporter at Insider joined Cheddar's Opening Bell to discuss the economic impact of the bill.
Jill and Carlo discuss the scenes of joy at American airports as borders reopen, another tool in the Covid toolbox, the latest in the Astroworld crowd crush tragedy and more.
Frank Lee, Managing Director at Miracle Mile Advisors, joins Cheddar News' Closing Bell, where he explains why markets are soaring after the Dow, S&P, Nasdaq, and the Russell 2000 all reached new record closes to begin the trading week.
The Biden Administration's mandate for COVID vaccinations by large employers has been put on hold by federal courts as GOP-led states and some businesses push back on the order's legality. Jonathan Adler, a law professor at Case Western Reserve University, joined Cheddar to discuss the legal challenges to implementing such mandates through OSHA (Occupational Safety and Health Administration). "Certainly expanding vaccinations is a good thing, and as vaccination rates go up that's better for all of us," Adler said. "But there are some legal questions about whether or not it's appropriate to use a law about occupational safety and health as the means to do that."
The Biden administration is giving businesses a deadline to implement a vaccination mandate, saying companies can take until after the holiday season. Andew Noymer, Associate Professor of Population Health and Disease Prevention at the University of California, Irvine, joined Cheddar to discuss.
Jacob Rubashkin, reporter and analyst at Inside Elections, joined Cheddar to discuss Republicans' wins on election night and what they mean for Democrats going forward.
James Astill, Washington Bureau Chief at The Economist, joins Cheddar News to discuss the latest issue, 'ONE YEAR ON: The calamity facing Joe Biden and the Democrats.'
Elon Musk asked Twitter if he should sell about $20 billion worth of his Tesla stock and about 58 percent of those who answered said yes. The Tesla CEO pledged to abide by the results of the poll, whichever way it went. Arun Sundararajan, NYU Stern professor & author of "The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism," joined Cheddar to discuss what the Twitter poll says about America's attitude towards billionaires and the nation's tax system.
