Feeling global slowdown, Fed keeps interest rate unchanged

The Federal Reserve cut its outlook for the US economy and kept its interest rate policy unchanged Wednesday, citing the impact of the global slowdown and turmoil in world markets. Giving a picture of the US economy that was less bullish than many had expected, the Fed still forecast continuing hikes to the benchmark federal funds rate this year, but at a slower pace than foreseen in December. Fed Chair Janet Yellen said the Federal Open Market Committee, the Fed's policy body, opted for "a slig