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All eyes on the Fed and the rate cut decision

Investors have gone from debating whether the Federal Reserve will lower interest rates in July to all but assuming that is a foregone conclusion. The markets got a potential signal on Thursday, when two influential Federal Reserve officials sharpened their public case for acting, quickly if needed, to support the U.S. economy. The question investors are grappling with now: Will the Fed’s first rate cut since the financial crisis take the federal-funds rate down by a quarter-percentage-point or half a percentage point? Diamond Hill Capital portfolio manager John McClain offered his insight to Yahoo Finance's Dan Roberts, Heidi Chung and Kristin Myers on "YFi AM."