My take on it is this: this lady is new to her job, and possibly new to a senior management role (if she is "senior", that is).  She seems to think that whoever is working with her has to "report" to her and clearly wants reports "because that's what managers do".  Well, yes and no.  It depends on the company's policies and no manager worth his or her salt will clutter up their subordinates' time needlessly with extra tasks that are pointless.  

She is failing to provide clear direction and boundaries for the scope of your authority.  "I want you to take the lead on lots of projects" is a useless statement unless it is qualified by an indication of precisely which projects she wishes you to take over.  

Maybe your manager can't actually let go and trust the staff who report to her; maybe she is unsure of herself or a micromanager, or quite simply, out of her depth!  None of these is your problem.

I would be tempted to use a meeting to discuss this matter more thoroughly and say you are puzzled at the mixed messages: need for reports and lack of direction.  You can be direct but still courteous.  No matter how disapproving she looks or how much she frowns, this is no time to beat about the bush or a few months down the line you will be posting to us about someone who has turned into a bully because they can't hack it.