Would a special-article segment in a newsletter be better called
"Feature Story" or "Featured Story"?
Thanks.
Both are used, with no particular criticism (US usage), though I think I
hear "Feature" more often than "Featured".
If you are asking for a title, rather than just a reference to a
particular column, I suggest that you not use the word "story", which
implies some kind of narrative, even fiction.
Weekly Feature, Special Feature. Replace "Feature" with "Item",
"Gossip",
"Report".
Whichever you like.
If you want details, to discuss the point with colleagues: "Featured story"
is a noun being modified by an adjectival participle, and "feature story" is
a compound noun. They both express the same intent, very understandably.