The Federal Reserve is expected to lower interest rates by the end of this year, according to various analysts and commentators. John Michaelson, in a piece published by the Wall Street Journal, argues against this move, suggesting that it primarily benefits Wall Street rather than the average American. He emphasizes that with stock markets at record highs, economic growth remaining stable, and full employment, there is little justification for a rate cut, especially as inflation is decreasing but not yet at target levels. The commentary highlights concerns that such a decision could harm the broader economy rather than provide relief to everyday citizens. Michaelson's views are echoed by others who note that many financial professionals have built their careers on models reliant on low interest rates, raising questions about the long-term implications of such policies.