Because she's party of the administration in power and people aren't happy right now, so they blame whoever is in power even if it's not quite their fault. They don't care that the rate of inflation slowed to basically normal, they care that things are still expensive because their wages haven't risen to match the raised inflation and their savings are lower. It used to be easier for incumbents, but as the conditions in the US continue to degrade from late stage capitalism and 60 years of neoliberal policies, I have a feeling it will continue to be the opposite.

Holding the line won't work with people getting poorer every year (and if your wage doesn't match inflation or the rising costs of housing or transportation, that's what happening, you're getting poorer).