The ONLY job the fed should have is to provide for the national defense. The individual states should be left free to create their own laws as long as they don't violate the Constitution. That's pretty much it, but with the interstate commerce clause,. THAT is what gave the Fed's their power over the states. That and of course the carrot of Federal dollars.
Would be hilarious if the Trump administration racked up a ton of debt with the Federal Reserve and then audits them and shuts them down.