Preheat oven to 350°F (175°C). Grease a baking sheet or line with parchment paper.
In a small bowl, whisk together the flour and baking powder. Set aside.
In a large bowl, cream together the butter and sugar until light and fluffy. Beat in the eggs one at a time, then stir in the vanilla and almond extracts.
Gradually add the dry ingredients to the wet ingredients and mix until just combined. Stir in the cherries and walnuts.
Roll the dough into 1-inch balls and place on the prepared baking sheet. Bake for 18-20 minutes, until the bottoms are lightly golden brown.
Remove from the oven and let cool for 5 minutes. Place the confectioners' sugar in a shallow bowl and roll the warm cookies in the sugar until evenly coated. Let cool completely before serving.
Interesting Facts
Cherry Snowball Cookies are also known as Russian Tea Cakes or Mexican Wedding Cakes.
These cookies can be stored in an airtight container for up to 2 weeks.
For a unique twist, you can use dried cranberries or dried blueberries instead of cherries.