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Photo by Jaap Arriens/NurPhoto via Getty Images

Facebook is experimenting with a news section within Facebook's video platform "Watch," the head of the company's journalism project, Campbell Brown, said at Recode's Code Media conference on Monday.

Why it matters: Facebook's had a rocky relationship with publishers as it has tested, launched, and pulled the plug on many news products that news publishers have relied on for traffic and business decisions. 

  • "We do need a destination for news on the platform....But the fact that we don't have a destination in breaking news moments is kind of crazy. We need to create that. I think its valuable," Brown told Recode's Peter Kafka and Kurt Wagner. 
  • Campbell says this will help guide users to accurate news sources during breaking news. 

Why now: The move comes weeks after Facebook announced it would down rank news in the News Feed and would use survey data from users to determine which publishers are trustworthy and deserve better ranking in the News Feed.  

  • Facebook's Head of News Feed Adam Mosseri says the surveys "aren't a popularity contest."
  • "What we're looking for specifically is publishers trusted by wide variety types of people, readers. ... It's intentionally designed to find what's broadly trusted and what's difficult to game."

Facebook says it doesn't have information on news video monetization in Watch yet.

  • "We're in such early days that we don't know have a plan on this other than that we know we want to do it," says Brown.

Publishers in the past have complained about being bait and switched by Facebook products, like Live and Instant Articles. In response, Brown says Facebook needs to be more transparent.

  • "I don't think we have done a great job in past around setting expectations when we launch a test with a set of partners," she said.
  • We're gonna have to experiment and test and we have to be way more transparent with publishers going in that this may not work out. Jump in with us if you’re ready for a big experiment that might not work. We have not been as open about that as we should’ve been."

Go deeper

Europe's energy reliance on Russia is a crucial shield for Putin

Photo: Pavel Bednyakov/Sputnik/AFP via Getty Images

Cracks in the NATO alliance regarding sanctions for Russia should President Vladimir Putin order troops into Ukraine are in large part based on energy supply concerns.

Why it matters: Russia holds tremendous leverage over some European countries because it provides roughly 40% of Europe's natural gas supply. In Germany, this figure is greater than 50%.

Why the Fed might want to jolt the markets

Fed chair Jerome Powell at a hearing earlier this month. Photo: Brendan Smialowski-Pool/Getty Images

So far, financial markets are cooperating nicely with the Federal Reserve's efforts to restrain inflation. They're doing the Fed's work for it by creating tighter financial conditions, in a distinctly non-panicky way.

  • But as the central bank's policymakers meet this week, an underlying question they face is whether the adjustment is happening too slowly.
Kate Marino, author of Markets
4 hours ago - Economy & Business

Omicron outbreaks were bad for business in January

Data: New York Federal Reserve Bank; Chart: Axios Visuals

Emerging anecdotal evidence shows just how hard the recent rise in COVID-19 cases hit businesses in early January — but that hasn't hurt some business leaders’ longer-term views of their companies' prospects.

Why it matters: Increasingly, the economic recovery has come in fits and starts that move in tandem with new peaks in cases. Look no further than the thousands of canceled flights and shuttered Broadway theaters in the wake of the Omicron variant's spread over the last few months.