In this answer @icurays1 states:
In this same vein, Fourier analysis leads to an extremely powerful theory of smoothness, because of the correspondence between differentiability and decay of the Fourier coefficients.
Similarly, in this section of a presentation dealing with the decomposition of functions using spherical harmonics, the presenter states, "[...] spectral smoothness corresponds to spatial decay[...]"
My question is two-fold. First, does this correspondence go both ways (i.e. does spatial decay imply spectral smoothness)? Second, if the converse holds, what is the minimal condition on a function on $\mathbb{R}^n$ for the Fourier transform to exist and be continuous everywhere in Fourier space (differentiability is not needed for my purposes)? For example, is the minimal condition that the function has a finite $L^2$ norm? A finite second moment?