Right now and fast so much for pause, the Fed chair telling Congress rates are going to

need to keep rising to bring inflation down.

So, Paul says we have a long way to go.

Does that mean this recent market rally is on shaky ground?

Plus, Biden's blunder, one day after Secretary of State Blinken wrapped up meetings in China

for progress was made, Biden called Chinese President Xi a dictator.

What impact will this off-the-cuff comment have on the U.S. Beijing relationship?

And later, big point seems to be back.

The cryptocurrency is surging back above 30,000, jumping nearly 15 percent in just the

last two days.

What's behind the revival?

And can it last?

We'll debate that.

I'm Melissa Lee.

This is fast money.

We're live at the Nasdaq market site on the desk tonight.

Tim Seymour, Karen Fighterman, Dan Nathan and Guy Adami.

We start off at a third straight down day for stocks.

The Nasdaq lead me to the loss of seeing its worst day in two weeks.

The S&P 500 also, closing lower along with the Dow.

Fed chair Jerome Powell warning that the Central Bank has a, quote, long way to go to fight

inflation signaling, there are more rate hikes than store.

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