Buffett had said in a CNBC interviewthat Yahoo's business had deteriorated significantly and that "something has to change there."
The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
The US dollar has risen about 15 per cent since mid-2015.
Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery.
By piling more pressure on governments, central banks risk not accomplishing much and yet provoking a political backlash that could threaten their independence.
Three major central banks have hit the zero limit, the Fed, the European Central Bank and the Bank of Japan.
The central bank maintained its bias towards a rate hike.
The Fed has said it wants to be "reasonably confident" in the inflation outlook before a rate hike.
At the same time, however, officials at the central bank lowered their projections for the long-run target interest rate, evidence of slightly diminished expectations for a nation climbing out of a severe crisis and struggling with demographic headwinds like declining labor force participation.
The next policy meeting will be in mid-June, when the panel will be joined by Stanley Fischer, the former Bank of Israel governor whose nomination to the Fed's board was confirmed on Wednesday by the US Senate.
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