craig torres reporter with bloomberg news. appreciate your time. >> sure. >> well, we're still planning to take today's white house briefing when it begins shortly. also looking to return here to the senate budget committee's markup of the gop's 2016 budget. this is live picture inside the heart senate office building a committee room there. the committee expected to resume shortly at 1:30 eastern. we will return to live coverage at that point. right now, though, a discussion on the administration's nuclear talks with iran from today's "washington journal." >> congressman chris stewart, republican of utah serves on the intelligence committee, also a member of the appropriations committee. new to our table. let me tell you about him. served 14 years as a pilot in the air force, flying rescue helicopters and b-1 bombers. holds three world-speed records, including the world's record for the fastest nonstop flight around the world. served as president ceo of the shipley group. he's written 17 books, several of which have become na

host: ok, craig torres, she's in no hurry.ut what about when the fed finally does raise the rates. -- raise the rates, how quickly will they do it? guest: this is very interesting. in the past, we've seen this stairstep climb. they go up one meeting, of the next meeting. this is from very low rate in 2003. this time around, that is not going to be the approach. it's a little bit like walking down a mountain in the fog. you take a couple of steps, you look around, see where you are going, take another step. it is going to be a much slower, deliberate path to higher rates. host: so, what does this all mean for tumors? -- for consumers? guest: it major credit costs will rise more slowly than they have in past economic cycles. it means the chair once a little more tightness in the labor market. if you don't have a job now, she's hoping that your search time will go down, perhaps the day you are offered will go up. and i would say, the federal reserve is on the side of labor here. they want to see more firmness in the job market. h