Facebook's updated their search software to dig a little deeper into the social network. Now, it will scan through just about everything that's public and provide you with a ton more search results.
When you search for something, Facebook will tap into your personal timeline and show you relevant results from your friend's public posts and conversations. Likewise, you'll also get better search suggestions based on what's happening within your network. As always, if you're worried about your privacy, you should go through your settings to make sure everything on your page is up to snuff.
Search FYI: Find What the World is Saying with Facebook Search [Facebook Newsroom]