By Katy Burne 

The Federal Reserve Bank of New York will hear from representatives of large investment firms next week about how markets are interpreting the central bank's recent policy communications and the firms' reactions to the Fed's decision not to raise interest rates last month, according to a meeting agenda posted on the bank's website.

Once a quarter, the New York Fed hosts its investor advisory committee on financial markets at its offices in downtown Manhattan, for a discussion about global financial market conditions, impacts of Fed policy, and developments that could hurt markets or hold back economic growth. The next meeting is scheduled for Oct. 14, according to the notice of the meeting posted by the New York Fed Tuesday.

At the meeting, the New York Fed will hear investors' "interpretation of the September [Federal Open Market Committee] events" and how they would "characterize recent Federal Reserve communications" around policy making, according to the agenda. The New York Fed also plans to assess investors' views about the federal government debt limit and budget negotiations.

The discussion about the Fed's communication challenges comes as the central bank has signaled it plans to raise short-term interest rates but is waiting for more signs that the U.S. economy remains on a solid footing despite recent global market turmoil and other events overseas. Fed officials decided at their meeting last month to leave rates unchanged because of such uncertainties.

Also on the meeting agenda: investors' outlook on the economic slowdown in China and other emerging markets, and their expectations for oil amid a global rout in commodity prices.

The outlook for emerging markets was also an agenda item at the committee's previous meeting, held June 25, before China's currency devaluation reverberated around global markets and elicited a broad selloff.

Meetings of the investor advisory committee, established in 2009, are important because they are one of the ways the central bank takes the temperature of Wall Street firms on major issues in financial markets and public policy. The committee's views also help to inform New York Fed President William Dudley, who is vice chairman of the Fed's rate-setting panel.

The advisory committee consists of an all-star panel of investment managers, including Mortimer "Tim" Buckley, chief investment officer at Vanguard Group; Alan Howard, founder of hedge fund Brevan Howard; and James Chanos, founder of Kynikos Associates, another hedge fund.

Write to Katy Burne at katy.burne@wsj.com

(END) Dow Jones Newswires

October 06, 2015 19:54 ET (23:54 GMT)