What's the Difference Between FDA Approved and FDA Authorized?

Please note: No COVID-19 vaccines have been approved.

The Food and Drug Administration (FDA) defines Approval and Authorization:  

Approval — Approval means the FDA has officially decided that a product is safe and effective for its designated use. The process for approval involves rigorous reviews of all available data on the product and can take several months.

Authorization — To speed things up in an emergency like a pandemic, the FDA can grant an Emergency Use Authorization (EUA). An EUA, as its name implies, authorizes a product for use during unusually urgent circumstances if the benefits of its use outweigh any known or potential risks.