It can help a bit, but fiscal policy is not sufficiently effective with a floating exchange rate, unless the economy is in a liquidity trap (which the USA just

It can help a bit, but fiscal policy is not sufficiently effective with a floating exchange rate, unless the economy is in a liquidity trap (which the USA just exited). The reason is when the rates are low, the removed government spending it will be replaced with private. A budget takes time to make, vote on and spend (or not spend). To be effective it must also align with monetary policy. Changing rates has a much quicker effect. By the time Congress agrees on what to cut the inflation might even be low - due to Fed action, a recession, or repairing of the post-Covid logistic issues.