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The easiest way to display an RSS feed is:

In administrator, go to modules>>site modules
Click new.
Give it a title
Scroll down and put the link for the rss feed where it says RSS URL

Set your details.

Then display your feed as you would any module.

A second way is to use the News Feeds component that comes with Joomla! In the administrator go to components>>News Feeds

In the component you can manage your news feeds and assign them to categories.

To show the feeds on the front end make a component link in your menu.

Discussion for this topic located here: http://forum.joomla.org/index.php/topic,88825.0.html