WATCH: Trevor Noah roasts Biden, praises American freedom of press at White House Correspondents’ Dinner

"Since you’ve come into office, things are really looking up. Gas is up, rent is up, food is up. Everything!" said Noah to the President, getting a good laugh out of the audience.

On a more serious note, Noah later pivoted to talking about how grateful Americans should be for the ample freedom of the press they enjoy in their own country.

"Every single one of you, whether you like it or not," said the comedian, "is a bastion of democracy."

"And, if you ever begin to doubt your responsibilities, if you ever begin to doubt how meaningful it is, look no further than what's happening in Ukraine. Look what's happening there," said Noah,

"Journalists are risking and even losing their lives to show what's really happening.

"You realize how amazing it is? In America, you have the right to seek the truth and speak the truth, even if it makes people in power uncomfortable. Even if it makes your viewers or your readers uncomfortable," said Noah.

"You understand how amazing that is?" he said. "I stood here tonight and I made fun of the President of the United States and I'm gonna be fine."

"I am gonna be fine, right?" Noah turns to someone off-screen in mock concern. The audience once again responded with laughter.

"Like, do you really understand what a blessing it is? ... Honestly, ask yourself this question: if Russian journalists, who are losing their livelihoods ... and their freedom, for daring to report on what their own government is doing, if they had the freedom to write any words, to show any stories, or to ask any questions, if they had basically what you have, would they be using it in the same way that you do?" Noah said.

"Ask yourselves that question every day, because you have one of the most important roles in the world," he concluded.