How does the government, more specifically Congress and the President influence the Economy Policy in America? How does this influence 'shift' depending on the political party in the majority (Democrat or Republican)?

In the USA, the president and the congress set the fiscal policy to blend with particular economic situations. For instance, during high inflation rate times, congress and the president can increase taxation and reduce their spending to regulate the amount of money in circulation. Moreover, different parties have various ideologies on how the economy needs to be run. For instance, if the republican or the democrats assume power, they can either change how the government spends or raises money, which can lead to disparity in the policies shifts at different times.