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Is New Testament Prophesy for today but not authoritative?

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English: folio 150 recto of the codex, with the beginning of the 1. Epistle to the Corrinthians (Photo credit: Wikipedia ) Wayne Grudem on New Testament Prophecy: In the OT prophecy is reserved for a select few who provide spiritual authority and direction to God ’s people. In the New, prophecy is available to all Gods people ( Acts 2). It is not possible  that everbody’s prophecies are authoritative for every other person. In Acts 2 (and in passage from Joel that Peter is quoting) we are told that this outpouring of the Spirit is for “all flesh” and takes place in the “last days.” If the Spirit has since been withdrawn (at least in this sense) then we are now living in days  after  the last days which makes no sense! It is surely the above passage that is the context for Peter’s promise of the “ gift of the Spirit ” which in verse 38 and 39 is promised for “you and for your children and for all who are far off, as many as the Lord shall call.” Surely this applies to us to