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The Office of Road and Rail says it was missing "critical points" when it made a decision.
Faisal Islam said there was mixed reaction in the room during Trump's Davos speech.
One conservative justice warned that the White House interpretation of the law could "shatter" Federal Reserve independence.
It is the last set of monthly inflation figures before the next interest rate decision on 5 February.
The move follows renewed tensions between the US and EU, as Donald Trump pushes to acquire Greenland.