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, and has insisted repeatedly that it is focused on curbing inflation.

Australian Associated Press