Jimmy Kimmel devoted part of his Thursday-night monologue to President Donald Trump, the Federal Reserve, and the complicated subject of international trade.
Kimmel’s target was Trump’s response to the Federal Reserve’s latest interest-rate decision. But the segment quickly moved beyond monetary policy and into a broader argument over how trade deficits actually work.
The timing was significant. On September 16, the Federal Reserve raised its benchmark interest rate by a quarter percentage point, moving the target range to 3.75%-4.00%. It was the first rate increase since 2023 and the first such move under Fed Chairman Kevin Warsh, who took office in May.
Kimmel portrayed the decision as an awkward moment for Trump after the president spent years criticizing former Fed Chairman Jerome Powell over interest rates.
