Our Lord, Who, before the earth was created, was prepared to be the Redeemer of His people, here reveals Himself as Jesus Christ, and also as the Father and the Son.
Redemption means, literally, either the repurchase of something that has been sold, by repaying the price (D. and C. 31:13).
Jesus Christ. The first of these two sacred names means Savior (Numbers 13:16).
Christ, the English form of the Greek Christos, was originally a title, the equivalent of the Hebrew Mashiah which means anointed. Gradually it became, as many other appellatives, a proper name, by which Jesus, the Anointed One, the Messiah, was differentiated from others who were named Joshua, or even Jesus.
The Father and the Son is a phrase that has been regarded as difficult to understand. But the explanation is given in the Doctrine and Covenants 93:4: "The Father because he gave Me of His fulness, and the Son because I was in the world and made flesh My tabernacle, and dwelt among the sons of Men."
We read further:
And I, John, saw that He received not of the fulness at the first, but received grace for grace; and He received not of the fulness at first, but continued from grace to grace until He received a fulness; and thus He was called the Son of God, because He received not a fulness at the first (D. and C. 93:12-14).
A further explanation of the title Father, as applied to the second person in the Godhead, is found in Mosiah 5:7-9: "Because of the covenant ye have made ye shall be called the children of Christ, His sons and daughters; for behold this day He hath spiritually begotten you; for ye say that your hearts are changed through faith in His Name; therefore ye are born of Him and have become His sons and daughters."
Thus, Jesus, the Anointed One, is the Father as well as the Son. (Compare Isaiah 53:10-12)