Why is deflation considered bad?

From what i understand, the fed aims for 2% inflation more or less and this is considered enough that America can afford the debt, assets can rise enough to be a steady investment, and so on. However, after we had 10% inflation for some time during Covid, why don’t we try to deflate? One argument I’ve heard is falling prices make people wait to buy a house or food, but will people realistically wait that long?