The approval rating on President Trump's economy has hit a new high, according to a new poll.

According to the Gallup poll, 53 percent of respondents approve of how the president has handled the economy, up from 50 percent in August.

It notes that the current approval rating is the highest Trump has received thus far during his presidency.

Former Reagan economic adviser Art Laffer said Tuesday on "America's Newsroom" that the Trump administration has done "almost everything" correctly as it pertains to the country's economy.

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"The tax bill is spectacular, the deregulation is wonderful, the appointment of [Jerome] Powell as the head of the Fed is terrific," Laffer said.

He said that Trump doesn't need to do anything more for the economy, and that it's "set."

The Gallup poll also noted that Trump's 53 and 50 percent economic approval ratings "are well above the average of 45 percent on this economic approval measure across presidents extending from Ronald Reagan through Barack Obama."

Laffer said that Trump's best economic strategy is his current tax bill.

"These things take time," he said. "All we have to do is let it steep and come to fruition, and it's working well."

Former President Barack Obama has downplayed the economic successes of the Trump administration, touting what he did to turn the economy around before his successor was elected.

"So just remember that: When you hear these folks bragging about this economic miracle, just remember when it started! Just remember when the ball got rolling," Obama said in September. 

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