At the moment we are on top of a peak. That means that the case reproductive number, R, is about 1 or thereabouts. This number is the product of three things, contact rate x probability of transmission x duration of infection.
It has come down form perhaps 2-4 because of the first. The social distancing has reduced contacts to the extent that transmission is not being sustained. Relax back to where we were and guess what happens…
Epidemics normally run their course because they run out of new contacts that haven’t had it already. That is called herd immunity. This epidemic has a long long way to go to reach that level. Vaccines bring it nearer because it reduces the pool of people who can still be infected.
There is no exit strategy that does not involve more infections blowing up. It’s just a case of managing them in the context of healthcare and isolation. In fact, given the stark social and economic choices, there probably isn’t a strategy at all! Test and test, confirm that some fraction have had it, then limit mixing.
It will be a long road. Just because we have contained transmission for now does not mean we can sustain it.
[TL:DR] social distancing has reduced the chain reaction of transmission. But how do you break the chain completely? No the government don’t know either.