No one can predict the future. There will always be people who guess and are right, and there will always be people who guess and are wrong. This proves nothing, other than guessing sometimes yields the correct answer, and sometimes it does not.Depending on who you listen to or what you read this could be a really good thing or a really bad sign (another 2008).
When people say "the market is due for a correction", this is always true because at some point in the future, whether it is tomorrow or 10 years from now, there will be a modest correction. But to imply that the correction is definately "soon" as it next week, or next month, or within the year is complete and utter nonsense. All you get is occasional confirmation bias when the correction does happen sooner than later, and some dudes come out and say, "Hey, I told you so!"
How does a the FED cutting (or increasing) interest rates affect the average guy? Well count on millions of people getting greedy or panicking, and the markets having some short-term volatility. Best thing you can do is ignore all the chatter and keep plugging away at a sound investment strategy. Or, listen to the wizards and soothsayers who make a lot of money advising people on how to time the market and pull your money in or out of investments. Your pick.