It's been nearly eight years since the financial crisis, and interest rates have sat stagnant for just as long. Now, the Federal Reserve is ringing in the New Year early with some long-awaited news: a quarter-point raise in interest rates. This slight hike could be a sign of more moderate rates in the year ahead, and some are watching warily.

The news polishes off a year full of business developments: the plunge in oil prices, the Chinese stock market crash, the historic climate plan agreed to in Paris, and the record-making mergers and acquisitions. And that's only a few of the top business stories of the year.

Money Talking host Charlie Herman talks with Rob Cox from Reuters Breaking Views and Rana Foroohar from Time Magazine to highlight the year's biggest economic moments and to make some predictions for the year ahead.