As the first presidential debate between Vice President Kamala Harris and former President Donald Trump approaches, voters are anticipating their face-off. While some hope for detailed policy discussions, others may tune in for the political drama. At Yahoo Finance, our focus remains on economics and markets.

Today on Opening Bid, guest host Julie Hyman sits down with Evercore Chairman Emeritus Ralph Schlosstein to explore the connection between markets and the election. Schlosstein, a longtime Democratic donor and experienced investment banker, highlights key economic considerations for each potential administration.

If Harris wins in November, Schlosstein emphasizes the need for a major tax discussion, as Trump's tax cuts are set to expire in 2025. He predicts a Harris administration would have a modest impact on markets, while another Trump term could lead to higher market volatility.

Ultimately, voters will decide which scenario they prefer in the upcoming November election.