In a live telephone interview with CNBC's Becky Quick, Warren Buffett said today's decision by the Federal Reserve on interest rates won't make "any difference whatsoever" to his investment decisions.

He said even if he knew exactly what the Fed's announcement will be at around 2:15pm ET today, he wouldn't "change a single buy or sell order."

That's in keeping with Buffett's long-standing strategy of buying the shares of good companies at low prices and holding them over many years.  Said Buffett, "The Fed has nothing to do with investing in good companies."

Buffett did the interview with us to draw attention to a $128 million donation given to a Pennsylvania school by the daughter of economist David Dodd, an early investor in Berkshire Hathaway and an important mentor to Buffett.  (Details on that very generous gift are in this previous Warren Buffett Watch post.)  In the CNBC interview, Buffett called Barbara Dodd Anderson a "tremendous person," and said, "her father would be very proud of her."

You can see (hear, really, since its on the phone) the interview in the clip to the left.

A full transcript of his comments about investing appears in this Warren Buffett Watch post. 

The transcript of his comments about the donation and the important role David Dodd played in his life is in this post: Warren Buffett: A 'Very Happy Story With a Happy Ending.

Questions?  Comments?  Email me at buffettwatch@cnbc.com