His [Micah’s] word is hesed, which translations often represent by “steadfast love.” NRSV has “kindness,” which is a bit wishy-washy. The word is actually close to the Greek agape. I think the nearest English word is commitment.
There are two circumstances in which you show hesed in the OT. One is when there is no reason to be generous or merciful to someone else, there is no prior relationship between you and them, but you nevertheless act generously or mercifully. You commit yourself to the other person even though you have no obligation to them. Commitment is then closely related to grace.
John Goldingay, “So What Does the Lord Require”, from The SEMI, a Fuller student publication