Despite the shock, long-term devastation, and disruption of public infrastructure and commercial activities in the world's financial center, the U.S. financial system largely remained open throughout the day and thereafter. Banks and other financial intermediaries stayed open. Key wholesale and retail payments system remained operational, like other financial activities, except to the extent that telecommunications disruptions had a temporary or local effect.
This legislative change (known as the Non-Printing Law) is the only one introduced since the establishment of the Bank in 1954. In contrast to us, many advanced and emerging economies have changed their central bank laws in the last two decades, all moving in the same direction in several major aspects: •  Price stability was set as the major objective of interest policy.