Yes. The government is in charge of spending money and taxes while, the federal reserve handles, bonds, and discount rate.
So you're telling me that the difference between monetary and fiscal policy is that the government is in charge of fiscal policy and the federal reserve is in charge of monetary policy.
Governments may make policy changes in response to economic conditions. Government regulation of the economy is frequently used to engineer economic growth or prevent negative economic consequences.
What is Texas' economy like?
As a sovereign country (2016), Texas would be the 10th largest economy in the world by GDP. Texas's household income was $48,259 in 2010 ranking 25th in the nation. The state debt in 2012 was calculated to be $121.7 billion, or $7,400 per taxpayer.
The Federal Reserve's approach to the implementation of monetary policy has evolved considerably since the financial crisis, and particularly so since late 2008 when the FOMC established a near-zero target range for the federal funds rate. From the end of 2008 through October 2014, the Federal Reserve greatly expanded its holding of longer-term securities through open market purchases with the goal of putting downward pressure on longer-term interest rates and thus supporting economic activity and job creation by making financial conditions more accommodative.