London (CNN Business) Happy Tuesday. A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here.

You'd think that Monday's surprise meeting between Federal Reserve Chairman Jerome Powell and President Donald Trump might leave investors feeling shaken.

After all, it's the first time the president and the nation's top monetary policymaker have had such a meeting since an informal dinner last February. And Trump has routinely attacked Powell since then, pressuring him to cut interest rates. His tweets have been shown to move markets.

But though the dollar initially dropped —Trump tweeted that the "very good & cordial meeting" included a discussion of "dollar strength & its effect on manufacturing" — the currency has since bounced back, and US stocks are on track for another day of record highs. Where's the worry?

First, the Fed explicitly said that Powell refrained from discussing what policymakers planned to do at upcoming meetings, distancing itself from any suggestion of political interference, per my CNN Business colleague Donna Borak.

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