Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Roland Weihrauch/picture alliance via Getty Images

The U.S. Food and Drug Administration on Monday temporarily relaxed certain policy guidelines that could allow manufacturers to produce more ventilators.

Why it matters: Automakers, parts suppliers and other industrial companies have offered to lend their manufacturing expertise in a wartime-like mobilization to combat the global pandemic. But without some easing of the FDA's strict validation process for medical devices, it can't happen.

What's new: The FDA issued new temporary guidelines that would give ventilator manufacturers more flexibility in the design of the machines, the materials used and manufacturing processes to clear existing bottlenecks.

  • They could, potentially, purchase a different type of motor from an alternate supplier, or use different types of plastic in the ventilator tubes, for example.
  • "We believe this approach will help manufacturers that want to add production lines or manufacture at alternative sites which may have different manufacturing equipment to increase manufacturing capacity," the FDA said.

President Trump caused confusion Sunday when he tweeted: "Ford, General Motors and Tesla are being given the go ahead to make ventilators and other metal products, FAST!"

Reality check: Carmakers are starting from a standstill, trying to learn about ventilators, who makes them, what their capacity issues are, and how the auto industry can help.

  • There is no federal orchestration of the process, so companies are leveraging their own networks for information.
  • Nor is it clear if automakers, whose own businesses are reeling from virus-related shutdowns, will be paid, and by whom.

The most likely scenario: Companies like GM and Ford could use their global scale to lean on suppliers, including raw materials suppliers, to speed delivery of components to ventilator manufacturers.

  • They could also share high-volume production techniques to maximize output.
  • Car factories switching to ventilator manufacturing is a long shot, but it could happen down the road.

The big question: Can any of this happen quickly enough to make a difference?

  • Gov. Andrew Cuomo has said New York is days away from running out of ventilators and other medical supplies.
  • Honeywell, which already makes N95 masks, said Sunday it could take 30 days to start up a new production facility in Rhode Island.

The bottom line: There's a desperate need for medical equipment, and it's not clear how manufacturers will be able to meet the need.

Go deeper

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.

16 hours ago - World

Maximum pressure campaign escalates with Fakhrizadeh killing

Photo: Fars News Agency via AP

The assassination of Mohsen Fakhrizadeh, the architect of Iran’s military nuclear program, is a new height in the maximum pressure campaign led by the Trump administration and the Netanyahu government against Iran.

Why it matters: It exceeds the capture of the Iranian nuclear archives by the Mossad, and the sabotage in the advanced centrifuge facility in Natanz.