President Donald Trump's tariffs sparked recession alarm, but data shows a solid economy. Apparent economic strength owes in part to lag in data, experts said.

The administration is implementing major shifts in economic policy, and trade is now at the center of it,” Powell said. “These changes are likely to push us further away from our goals.” He explained that the tariffs announced by Trump turned out to be significantly higher than expected — and the economic fallout will likely be just as steep,