Preheat oven to 350°F.
Spread walnuts evenly on a baking sheet or in a shallow pan.
Bake stirring once or twice, until lightly browned and fragrant, 7-10 minutes.
Coarsely chop nuts and set aside.
In a large bowl, cream butter and sugars until light and fluffy; add eggs and beat well.
In a separate bowl, combine flour, baking soda, cinnamon, nutmeg, salt and nuts.
Add to the butter mixture and stir well to combine.
Stir in dried cranberries and toasted walnuts.
Drop cookies by tablespoonfuls (or however large you want the cookies to be) onto a parchment-lined cookie sheet.
Bake 12-15 minutes, or until the edges start to brown.
Cool on a wire rack.