NEW YORK (TheStreet) -- Presidential candidates Hilary Clinton (D) and Donald Trump (R) squared off on Monday night in the first of three debates before the election on November 8. With the race to the White House heating up voters and investors want to know how this election will impact the U.S. economy.

"The Fed sees near-term growth at around 2%, but then medium longer term growth was revised down to about 1.8%," BloombergTV's Alix Steel reported on "Bloomberg Go" Tuesday morning.

Goldman Sachs' chief economist Jan Hatzius joined Steel on the program to discuss the election's impact on the economy.

"Well we do broadly agree with the GDP forecast that the Fed expressed. I do think in the near-term two, or maybe a little more than two is probably the right number," Hatzius said.

What happens in an election has the potential to be important for markets, Hatzius added. If there is volatility in the market or a change in financial conditions this can have an impact on growth.

"Nevertheless our expectation is mostly likely above trend growth for the foreseeable future," he added.

When comparing both candidates Hatzius believes there is the potential for a bigger stimulus under Trump because there would be "unified control of Congress."