Answer:
Because of the conditions (consumer preferences/inflation/lags) associated with implementing monetary and fiscal policies, the impact of the government's new policy will likely manifest once the effects of the policy are fully realized.
Explanation:
The key elements of fiscal policy are government spending and taxation. In times of a recession, the government can increase spending / reduce taxes to stimulate consumption and push towards economic growth. Similarly, when the economy is booming, the government can raise taxes to curb spending.
The same is applicable to the Monetary policies.
