Inflation fears this week abruptly gave way to concern for the economy, with long-term rates and stocks dipping accordingly. Overriding all financial news: The miraculous outbreak of an authentic effort to repair the nation's finances. One at a time: By the end of last week, inflation worrywarts had begun to expect Federal Reserve tightening this year. On Monday, Federal Reserve Board Vice Chairman Janet Yellen and New York Federal Reserve President Bill Dudley blew them up altogether. Fed tightening now is inconceivable. Forecasters have called for 4 percent-plus U.S. Gross Domestic Product growth, but a crowd is elbowing for the exit, revising suddenly as low as 1.5 percent. March retail sales were soggy, a 0.4 percent gain and only 0.1 percent ex-gasoline. New claims for unem...
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