The statement that best describes the rules of the Federal Reserve is that the Federal Reserve directs monetary policy, sets interest rates, and provides banking services for commercial banks.
<h3>What is Federal Reserve?</h3>
The Federal Reserve is defined as the central banking system in the United States. This system was come into the existence from December 23, 1913.
Under this system, the Federal produces medium of exchange or money by buying or acquiring the securities from the wide-open market and then increase the related funds to the reserves banks of commercial banks.
This system provides the banking services to the commercial banks of the America, by directing the monetary policy, sets interest rates, and renders banking services.
Therefore, the correct option is D.
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