President Carter interrupted his vacation on nearby Sapelo Island for a two-hour meeting this afternoon with his principal economic advisers

Press secretary Jody Powell said the discussion with the president's economic advisers included information about the midyear economic report due next Monday and about longer-range economic goal. Powell said the group traded views on how to deal with the economy, "whether it is by us or by others," through 1985.

Attending the economic meeting were Vice President Mondale; Treasury Secretary G. William Miller; Charles L. Schultze, chairman of the Council of Economic Advisers; James T. McIntyre Jr., director of the Office of Management and Budget; Stuart E. Eizenstat, domestic policy adviser; chief of staff Jack Watson, and Frank B. Moore, congressional liaison.

The advisers flew down from Washington early this afternoon and returned to Washington immediately after the meeting ended about 5 p.m. The presiident had spent some time yesterday talking on the telephone with his economic advisers.

The president also met briefly this afternoon with some of his political and campaign advisers to go over planning for next month's Democratic convention and the general election campign.

The president apparently will maintain a low profile during this week's Republican convention in Detroit. He chose not to respond today to remarks by Ronald Reagan, the certain GOP nominee, who said in a taped television interview that he expected the Soviets to try to help the president defeat him, adding, "I would be worried about me if the Soviet Union wanted me to be president."

The president will wind up his vacation on Wednesday but will make two campaign appearnaces in Florida before returning to Washington early Thursday.