To the best of my knowledge the federal government does not draw up fiscal policies, they rather approve them when a bill is passed, the central bank of a Nation is responsible for making economic measures which they think would benefit the nation.

You should also note that the sector that makes the policies is different from where actual bills are printed. The idea of 'printing money out of thin air' should not be taken literally as this rarely happens. What the central banks does is they put measures in place to counter the effect of an economic issue;
During a recession, an expansive monetary policy would be passed and this would help to stimulate the economy and increase the cash flow without printing more actual bank notes. This can be done by;
• Making cheaper credits available for banks. This would increase th amounts local banks can borrow from the federal reserves, the bank in turn would make loans readily available for the populace at cheaper interest rates. This is done to stimulate SMEs by injecting more money into the market.
• They can also engage in quantitative easing: were the central banks would buy securities and bonds from member banks, and providing them with credits in those amounts, this increases the liquidity in Banks and increases the flow of money. This was done by the Federal reserve in America during the 2008 financial crisis