Larry Kudlow, President Donald Trump's chief economic advisor, told CNBC on Friday that he doesn't want to "panic on policy measures" designed to combat the new coronavirus and said that U.S. growth remains strong.

"We would prefer a targeted approach, a rather micro approach," Kudlow said. "Let's think about individuals who might lose paychecks because they have to stay home if they get the virus. Let's think about small businesses that might get hurt by this."

"I just don't want to panic. I don't want to panic on the economy, which looks sound. I don't want to panic on the virus, which frankly, most Americans are not at risk. And I don't want to panic on policy measures. Let's try to be calm and not overreact," he added.

Kudlow explained that the White House would rather take a more specific, tailored response to the virus and hold off on broad-stroke policies that could upend local economies such as quarantines.

"Can we possibly do this fact by fact, day by day? Because we don't know what the magnitude of the economy might be in terms of a slowdown," Kudlow added on Friday. "We don't actually know what the magnitude of the virus is going to be. Although, frankly, so far it looks relatively contained."