Art Cashin says the Federal Reserve can’t go back to higher interest rate hikes after the downturn. “He made a mistake, if you will, starting to speed up. He started 50 [basis points] down to 25. If you reaccelerate, if you go back up to 50, that tells the market there is a good chance that you made a mistake. This is an ‘uh oh’ move. So they will move the heavens and the earth will not accelerate any more,” said the director of floor operations of UBS Financial Services in an appearance Friday on CNBC’s “Squawk on the Street”. reaccelerating,” continued Cashin. That follows comments on Friday from Atlanta Fed President Raphael Bostic who said he was “steadfast” in favor of a 25 basis point rate hike, instead of the 50 basis point increase some other Fed officials have called for. Shares reacted favorably to these comments, with all three major averages on pace for a positive week Regardless, Cashin said he expects obstacles ahead for the market, and urged investors to keep an eye on some technical levels. They are watching to publish the 4.10% level in the 10-year Treasury yield, as well as the 4.025 level in the S & P 500. It could continue until Tuesday next week,” said Cashin.