Short answer. Generally no. The party producing a witness is not allowed to impeach that witness's credibility. The exception is where the court declares the witness unwilling or hostile, or where the witness is an adverse party, in which case impeachment becomes available.
What the law says
the party producing a witness is not allowed to impeach his credibility
Rule 132, Section 12 — Impeachment by evidence of conviction of crime. Read the full provision →
The general rule, and the reason for it
By calling a witness you present that person to the court as worth believing, so the rule does not let you turn on them when the testimony disappoints. Except with respect to the witnesses the provision separately identifies, the party producing a witness is not allowed to impeach his credibility. The practical consequence is that the choice of witnesses carries real risk. Calling someone whose account you are unsure of is not a free option, because if the account comes out badly you cannot then attack the person who gave it.
When the court declares a witness hostile
The exception is not self-executing. A witness may be considered as unwilling or hostile only if so declared by the court, and the court makes that declaration upon an adequate showing of one of three things: the witness's adverse interest, unjustified reluctance to testify, or his having misled the party into calling him to the witness stand. So you have to apply, and you have to have a basis for it. Simply being disappointed by the answers given is not among the grounds listed. Until the court makes that declaration, the prohibition binds you, and an attempt to impeach your own witness without it is open to objection on that ground alone.
What the declaration allows
Once a witness has been declared unwilling or hostile, or where the witness is an adverse party, the calling party may impeach him in all respects as if he had been called by the adverse party. There is one carve-out: impeachment by evidence of bad character remains unavailable to the party who produced him. That preserves something of the original principle even after the declaration has been made, and it is a limit worth knowing before assuming a hostility declaration opens up everything.
What the other side gains
The same provision addresses what the opposing party may do with such a witness. The unwilling or hostile witness, or one who is an adverse party, may also be impeached and cross-examined by the adverse party, but that cross-examination must only be on the subject matter of his examination-in-chief. So its scope is bounded by what was covered on direct rather than being at large. Both sides gain something from the declaration, and neither side gains everything.