Tim Duy, an anthology on American monetary policy, on his blog wrote, that the Fed may not be prepared to have direct control of the entire yield curve, "but that doesn't mean it won't happen one day." According to Duy: ‘’If the economy will remain weak, inflation will remain below target and the Fed will not be willing to significantly increase bond purchases, it will not have many other options left. The fact that the US economy is not expected to recover from the V-shape is becoming increasingly clear as the number of coronavirus infections rises again in some countries.’’
So, according to Duy, Fed will be under pressure "to do more." The Fed can put more weight on so-called forward guidance and link its policy to changing economic conditions and especially inflation. It could "increase QE, but that would mean increasing the balance sheet at an ever-increasing rate and the Fed would probably start to worry about how much the balance sheet is inflating."
The economist claims that other economists do not expect any elimination of losses. However, Beckworth believes that this is a mistake that will have serious economic consequences, and calls for a vote in the Fed's leadership to change the policy in order to return to the trend.