“ ‘This could be a long, hard road that we have ahead of us until we get to either an effective therapy or a vaccine. It’s hard for me to see a V-shaped recovery under that scenario.’ ”

That’s Neel Kashkari, the head of the Federal Reserve Bank of Minneapolis, painting a rather gloomy picture in a CBS interview on Sunday morning of what lies ahead for the U.S. economy as the country continues to battle the coronavirus pandemic.

Kashkari, while acknowledging the downside of what a prolonged shutdown could mean for the economy, said the U.S., “barring some health-care miracle,” is looking at an 18-month strategy of rolling shutdowns based on what has happened in other countries.