I would like to set up multiple RSS updates in one place. Any way I can make this happen?

Ideally I would have a “feed” – sort of like a Twitter or Facebook newsfeed that updates live every time a website/blog/search string that I check daily/hourly makes a new post.

What web applications or websites allow me to aggregate multiple RSS feeds like this without having to build my own blog/website from scratch? Any suggestions on how to create sort of a “central hub” of all of my favorite websites that post frequently and gather them on one page? Is this possible?