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STORY: Musk wrote in an email to executives that he had a "super bad feeling" about the economy and needed to cut about 10% of jobs at the electric carmaker, Reuters reported earlier on Friday.

Asked by Reuters about Musk's comments, Biden was dismissive. "While Elon Musk is talking about that, Ford is increasing their investment overwhelmingly," Biden said. "Ford is increasing investment and building new electric vehicles. Six thousand new employees, union employees I might add, in the Midwest."

He added: "So, you know, lots of luck on his trip to the moon."

Musk replied on Twitter: "Thanks Mr President!" He included a link referencing NASA's April 2021 award of a $2.9-billion contract to Musk's space company SpaceX to build a spacecraft to bring astronauts to the moon.

Biden had just given a speech of his own touting higher-than-expected U.S. job growth in May and rebuffing criticism of his handling of inflation.