In the 1991 and 1993 versions, zero inflation was defined as "when the expected rate of change of the general level of prices ceases to be a factor in individual and business decisionmaking."
While these resolutions did not pass, the definition of price stability in the 1991 and 1993 resolutions was, undoubtedly not by accident, nearly identical to the language used by Chairman Greenspan and to the concept articulated earlier by Chairman Volcker. A second set of bills was introduced by Senator Connie Mack and Representative Jim Saxton in 1995 and 1997.