As inflation rises to a 40-year high, the US Federal Reserve is expected to respond with a policy framework that includes monetary tightening and interest rate hikes. Inflation, according to Fed Chair Jerome Powell, poses a "danger" to the labor market recovery and long-term economic progress in the United States.

President Biden caught on hot mic referring to Fox News reporter as a "stupid son-of-a-bitch" when pressed about inflation at White House meeting on lowering prices and encouraging more competition. pic.twitter.com/aBttM4DNZ5

— The Hill (@thehill) January 24, 2022

Fox News' Peter Doocy was allowed to ask US President Joe Biden a question about the event, which was described as a debate on how to cut consumer costs for working for American families, during the last seconds of Biden's Monday afternoon news briefing.

"Do you think inflation is a political liability ahead of the midterms?" the Fox News reporter posed.
"That's a great asset—more inflation," Biden said facetiously, as Doocy made his exit.

"What a stupid son of a b**ch," the US president muttered into the mic.

"I think the president is right, you are a stupid SOB," quipped Fox News' Jesse Watters to Doocy, who did not appear to take Biden's remarks too seriously.

Doocy laughs it off.
"Nobody has fact checked him yet and says it's not true." pic.twitter.com/KXeDXjDil6

— Alex Thompson (@AlexThomp) January 24, 2022

"Nobody has fact-checked him yet and said it's not true," Doocy responded with laughter.

Biden has since apologized and clarified that his obscene remark was "nothing personal" to the Fox News reporter. During his evening appearance on Sean Hannity's opinion show, Doocy verified the call.