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.

President Trump and Federal Reserve Chair Jerome Powell are facing off over how the central bank will respond to the economic impact of the White House’s trade war. Trump and Powell appear

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,