Updated

Economists are warning the Federal Reserve could raise interest rates multiple times rather than just once, noting historical precedent for the Fed not stopping after a single hike. Separately, CNBC's Jim Cramer drew parallels between current market conditions and fall 2018, when the Fed's tightening path unsettled equities. Adding to the debate, the 10-year Treasury yield has climbed to the doorstep of 5%, a level analysts say signals bond-market pressure for further rate hikes even though such hikes would do little to lower gasoline prices. Commentary framed the rising yield as a warning sign for stocks, reinforcing concerns that the Fed's path could weigh on equity valuations even as officials weigh multiple rate increases.