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The president was in the East Room of the White House for a meeting of his Competition Council, which is focused on changing regulations and enforcing laws to help consumers deal with high prices. Reporters in the room shouted a number of questions after Biden's remarks.
Fox News' Peter Doocy asked Biden about inflation, which is at a nearly 40-year high and has hurt the president's public approval. Doocy's network has been relentlessly critical of Biden.
Doocy called out, “Do you think inflation is a political liability ahead of the midterms?”
Biden responded with sarcasm, “It's a great asset — more inflation." Then he shook his head and added, “What a stupid son of a bitch.”
His comments were captured on video and by the microphone in front of him. Doocy laughed it off in a subsequent appearance on his network, joking, "Nobody has fact-checked him yet and said it’s not true.”
The White House did not immediately responded to a request for comment.
The White House has insisted repeatedly that it is focused on curbing inflation, with Biden reorienting his entire economic agenda around the issue.