United States Federal Reserve has kept its interest rate unchanged citing the impact of the global slowdown and turmoil in world markets. The Fed Reserve also cut its outlook for the US economy and gave a picture that is less bullish than many had expected for the American economy. Fed Chair Janet Yellen said last night the Federal Open Market Committee, the Fed's policy body, opted for a slightly more accommodative path given soft US business investment and weak exports in recent months. But, she added, this decision partly reflects the implications for the US economy of the global economic and financial developments.Yesterday, the Federal Reserve also made it clear that officials will probably raise rates later this year, perhaps twice, in small increments. In a meeting with journalists, Federal Reserve Chair Yellen said inflation picked up in recent months, but continued to run below the Fed's two percent target rate. The Fed last raised interest rates in December to a still low one-half of one percent.