Suppose that in February the government undertakes the type of policy that is necessary to bring the economy back to the natural level of output in the preceding scenario. In April 2023, U. S. exports decrease because China implements trade restrictions on U. S. goods.
Because of the (consumer preferences/inflation/lags) associated with implementing monetary and fiscal policy, the impact of the government's new policy will likely once the effects of the policy are fully realized.

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.