Federal Reserve Chairman Jerome Powell. Photo: Scott Olson/Getty Images

The Federal Reserve expects unemployment to hit a 39-year low this year, falling to 3.6%, according to the Washington Post's Heather Long, and the GDP to rise by .10%.

The big picture: Due to economic prosperity, the Reserve announced it would be hiking its "benchmark short-term interest rate a quarter percentage point," and suggested that two more hikes are in the near future, CNBC reports. Axios' Dan Primack explains that interest rate hikes are often seen as a drag on economic growth, but the Fed is basically saying not to worry.

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Exclusive: Facebook cracks down on political content disguised as local news

Illustration: Eniola Odetunde/Axios

Facebook is rolling out a new policy that will prevent U.S. news publishers with "direct, meaningful ties" to political groups from claiming the news exemption within its political ads authorization process, executives tell Axios.

Why it matters: Since the 2016 election, reporters and researchers have uncovered over 1,200 instances in which political groups use websites disguised as local news outlets to push their point of view to Americans.

16 mins ago - Technology

Nationalism and authoritarianism threaten the internet's universality

Illustration: Aïda Amer/Axios

Governments around the world, prompted by nationalism, authoritarianism and other forces, are threatening the notion of a single, universal computer network — long the defining characteristic of the internet.

The big picture: Most countries want the internet and the economic and cultural benefits that come with it. Increasingly, though, they want to add their own rules — the internet with an asterisk, if you will. The question is just how many local rules you can make before the network's universality disappears.

The Democratic fight to shape Biden's climate policy

Illustration: Sarah Grillo/Axios

Left-wing climate activists don't want Joe Biden getting advice from people with credentials they don't like — and they're increasingly going public with their campaign.

Why it matters: Nobody is confusing Biden with President Trump, and his climate platform goes much further than anything contemplated in the Obama years.