What did the federal reserve system create

a centralized bank for the United States

Explanation:

The Federal Reserve System created a centralized bank that established emergency cash reserves and made it easier for payments to be exchanged throughout the country.

The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.

Jurisdiction: United States