John Authers, Columnist

The Tipping Point From Tight to… What, Exactly?

The economy is slowing, and monetary authorities think financial conditions are tight. A big market rally could upset that view.

US consumer spending will be tested in coming months.

Photographer: Stephanie Keith/Bloomberg

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What just happened? Last week was a busy one for macroeconomic announcements. The essential points to emerge from it are as follows: