The large amount of overseas dollar holdings props up the dollar, keeping manufacturing jobs out of the US. Thus, America's monetary policy is a source of stagnant job opportunities. It is also the source of stagnant real wages and income inequality. The reason is that wages lag inflation while monetary policy, the source of inflation, props up the stock market.
People who've been invested in the stock market have done well thanks to the Fed, while people who hold cash or earn wages, the working class, have done miserably. Yet, they keep voting for Democrats and Republicans because America is an idiocracy, and they are the idiots.