Stephen Colbert opened Late Show announcing he will sue President Donald Trump after catching POTUS red-handed stealing Colbert Report character bits.

The alleged theft was noticed when Trump began complaining about Federal Reserve Chairman Jerome Powell – a Trump appointee — for raising interest rates.

“I’m not happy with the Fed;  they’re making a mistake because I have a gut and my gut tells me more sometimes than anybody else’s brain can ever tell me,” Trump boasted this week in an interview with WaPo.

“That quote about trusting gut over brains of experts remind me of someone I used to know,” CBS late-night star Colbert told his audience, revealing that the “someone” is his Comedy Central conservative gasbag Stephen Colbert character, who used the same gut-versus-brains gag on his very first episode of The Colbert Report.

In that show’s debut, Gasbag Colbert told viewers “The Truth” comes from his Gut.

“Do you know you have more nerve endings in your stomach than in your head?” Gasbag Colbert insisted. “Look it up. Now somebody is going to say, ‘I did look it up and it’s wrong.’ Well, mister, that’s because you looked it up in a book! Next time try looking it up in your gut.”

Donald Trump took that advice.

“Trump stole my bit. Knock it off!” Colbert fumed on Late Show, calling it copyright infringement.”

“He’s stealing my anti-intellectual property!”

With that, Colbert made it official: “I am suing Donald Trump for stealing my old character…You better lawyer up buddy – and somebody better than Rudy Giuliani!”