As JP Morgan considers, the Fed will raise the key rate this year 7 times; previously it predicted 5 increases. The reason for this is the record level of inflation in January, which exceeded analysts' forecasts, the bank explained. The opinion that this problem will prompt the Fed to tighten its monetary policy at a faster pace is also shared by other players from Wall Street. Moreover, JP Morgan predicts that the regulator will hold 9 rate hikes in a row, each by 25 bps. As previously reported, inflation rose 7.5% YoY in January, a rate not seen in the past 40 years. Analysts had forecast 7.2%. This week's main news will be the release of the fourth quarter U.S. GDP (secondary estimation), January consumer confidence index, household income and spending, as well as revised inflation data for the eurozone over the same period. Also in London will be the annual week-long international conference on oil and gas.