The Fed was essentially created to have a central system in place to avoid future panics, like in the panic of 1907. The banks could then be loaned money by the fed, so they did not run out of money and the economy continued to flow. Before then, the economy was managed by J.P. Morgan, which was not sustainable for the future. Aldrich gathered together other high ranking bankers throughout the country, in secrecy, to manifest a central bank for control. The reason they tried to keep it low- key and secretive was based on the fact that people did not like the word "central" and "bank" in general at that time. Releasing this idea to the public would face a lot of backlash.
This is a great paragraph. I like how you included specifics like names and dates.
Yes, good point about how they were trying to avoid J.P. Morgan running it all by himself.