HIi @craigemslie - the FAQ question is about "STEEM Backed Dollars" (SBD), which are technically different than the STEEM coins. The price of STEEM can go way up or way down, but the mechanisms of the blockchain are designed to try and hold the value of a "Steem Dollar" at approximately one USD.
It should also be noted that SBD has been trading for closer to $2 instead of $1 recently, so the mechanisms to hold it 'close to 1 dollar' haven't been perfect.
Thank you so much for the info!