Turbo

Turbo is an consumable item in Fallout: New Vegas. It grants +1 to turbo upon consumption. The effect of turbo is a brief slowdown of the surroundings, including everything from your enemies' movements to projectile speed - also your own projectiles' speed. However, you are not slowed down yourself - your own movement speed and fire rate remains intact.

Characteristics
Turbo causes a very brief bullet time effect, slowing your enemies downConfirmed