would dominate / dominated


Senator McCarthy's investigations, as well as those of the House Un-American Activities Committee (HUAC), helped create the atmosphere of fear and resentment towards communists that would dominate the next two decades.
History Brief: The Red Scare (Part 1), YouTube video

I think that "dominated" would mean the same in the sentence with the only difference that it would represent the view "from the present into the past" whereas in the original it represents the view "from the past into the future". Is it right? Thank you.
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