Unfortunately, this is not the case today. We the People have allowed the Fed to usurp power from the states and the people. It was what the founders, mores specifically the anti-federalists, worried about. Through accepted loose interpretations of the constitution by Supreme Court judges the Fed now dictates to the states national laws with the threat of withholding funding to the states unless they comply. It was suppose to be the other way around.
It began during the Washington administration. The First Bank of the US raised the question of "implied powers." Hamilton argued for "implied powers". Jefferson argued against. The antifederalists had warned specifically about implied powers, the necessary and proper clause, the general welfare clause, but Madison et al mocked their concerns. Then, maybe a year later, there was Hamilton, convincing Washington that implied powers was correct. And so it went. The dream of "few and delegated" powers was in the crapper while the framers themselves served in the highest offices.
Which all leads me back to my premise, which is that the Constitution was a mistake. If the framers themselves couldn't hold to what they promised, who can? There was no need for a national consolidated government.