Could Cord Jefferson and Jeffrey Wright be the new Scorsese and De Niro? There’s definitely magic happening between the debuting director and his venerable star in “American Fiction.”

Jefferson adapts Percival Everett’s 2001 novel “Erasure” as a razor-sharp satirical comedy (★★★½ out of four; rated R; in theaters now in New York and LA, expanding Dec. 22) that ably skewers Black storytelling tropes and touches on race, pop culture, celebrity and identity. But as much of a wry hoot as it is, with Wright as the film's enjoyably irascible lead, Jefferson also weaves in a dysfunctional family drama that gives it emotional heft to complement the hilarity.

Thelonius “Monk” Ellison is a curmudgeonly California academic who frustrates students and fellow faculty members alike. He’s also a down-on-his-luck writer whose literature ends up in the African-American Studies section of book shops even though he argues with a store clerk, “The Blackest thing about this one is the ink.”

His overall annoyance with the world mounts as his agent (John Ortiz) says editors are looking for a “Black” tome and Monk attends a Boston book festival where the belle of the ball is a writer named Sintara Golden (Issa Rae) with a best-selling novel full of Black stereotypes titled “We’s Lives in the Da Ghetto.”

At wit’s end, Monk chooses chaos and, as a joke, writes a book with deadbeat dads, rappers, crack and other “Black stuff” under the pen name “Stagg R. Leigh.” His agent isn't amused but what blows both their minds is when a publishing house loves it. The novel creates a huge buzz in the book world and there’s even talk of a movie deal, all of which becomes a problem when Monk needs to figure out how to promote the work of a “wanted fugitive.”

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At the same time all that is happening, Monk’s sister Lisa (Tracee Ellis Ross) tells him that their mom Agnes (Leslie Uggams) is showing signs of dementia, and Monk takes a more central role in helping out their scattered family while also reconnecting with his estranged gay brother Cliff (Sterling K. Brown). Monk finds a confidante in next-door neighbor Coraline (Erika Alexander), yet their blossoming romance threatens to be derailed by Monk’s literary charade and growing ego.

Name a movie Wright has been in – “The Batman,” “The French Dispatch,” even this year’s “Asteroid City” and “Rustin” – and the Emmy and Tony winner made it better just being there, usually in a key supporting role. While Monk could be unlikable in the wrong hands, Wright gives him smarts and a sarcastic wit as well as an underlying vulnerability and a well-meaning soul as he first rails against but later understands the choices fellow artists have to make. Rae and Brown also have standout performances playing off Wright as Monk's professional and personal foils.

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Their great lines and interactions – often funny, sometimes biting, always thoughtful – are courtesy of Jefferson. “Fiction” announces the former TV writer (“The Good Place,” “Watchmen”) as a new cinematic voice to watch with the way he deftly balances Monk’s faux novel shenanigans – including one ingenious scene where the writer interacts with his book’s main characters – and his family strife. His insightful social commentary has a wide aim, gleefully satirizing different sorts of people and situations, and he makes salient points about the pigeonholing of Black artists and the importance of individuality. The plot grows pretty wild in the final act as the movie embraces a more meta nature, but Jefferson brings it home in the end with a pitch-perfect final gesture.

“American Fiction" is a story that’s provocative and satisfying, with a superb director/actor combo that's the real deal.

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