"As "net effect" you mean ... way that new currency is being distributed?"

Correct, the distribution as to who gets the money and how the money is spent. Monetary policy is really a supply side solution while fiscal policy sometimes shows up as a demand side solution.
Biden will push for an infrastructure and climate change bill sometime around March and this bill will probably be branded as another "stimulus package". I suspect a lot more of this money will go directly to local, state, and government agencies rather than the private sector for this particular package. When that money goes to the local, state, and government agencies then that money will be spent for sure.

In monetary policy, the money supply expansion tends to put banks and investors in control of the money and if banks are afraid to lend then there is little to no liquidity effect. You saw this in 2008.

The other issue is that the Fed and the private banks tend to drive asset prices up. Most of the money gets "invested" in stocks, bonds, and bitcoins. That is different than money being "spent" on every day things like construction, food, and rent.

The Fed has been putting a lot of pressure on congress to pass fiscal stimulus because they know that monetary stimulus only has a limited effect on the economy. Its very top down. While fiscal if done correctly, could be a little more bottom up or "decentralized". It really depends on exactly what the fiscal package looks like.

Biden has picked Janet Yellen to be the new Secretary of Treasury. Janet Yellen was the former Fed president, so now you will have two Fed people. Powell leading the Fed, and Janet leading the treasury. I suspect more fiscal and less monetary in the future.

We will see how things turn out.