Is it possible to adjust (slow down) the playback speed in FCP?

If you want to quickly skim through a finished project, you can press Play [space bar] and then press [L] to make kick the playback speed up a notch. If you press [L] again... it REALLY starts to play back quickly. This is a great feature for workflow when you need to give a project one final "look over" without having to really sit and watch it at normal speed.

Is it possible to do the same thing, but slow down the playback? I know you can slow down any clip(s) you would like... but this is actually changing the speed of the clip. I just want to slow down the playback speed, but without having to manually use the "skim" tool.

What I'm trying to do is more precisely time out on-screen captions.

You know how "all the kids these days" love that ridiculous thing where they make a YouTube Short, IG Reel, or... a "Story" or whatever... and they want the captions to appear one-or-two words at a time with a slight "build-in" animation? Well... that whole process generates heaps of individual "Title" clips. I use an app called "Captions for FCP" which uses voice recognition to generate captions and slice them up into the individual "Title" clips. But... they almost always need to be tugged this way or that way... and some words need to be edited. etc.

It would be super helpful if I could just slow down the playback by 20% or so. Because even with the waveform turned up so I can SEE where each word is.... I still find it would be easier to be able to "watch" playback... but... slower.

Is this possible with FCP?