Speed reading works as advertised. I know of no 'harmful' effects.
There are a few side effects that may not be viewed entirely as positive but these can be mitigated by purposely sub vocalizing. Once you get experienced at speed reading, switching back and forth is not a problem.
The main side effect is that emotional content does not have time to be fully experienced. This is fine for factual information but might diminish fiction especially if you like the emotional part of it (i.e. might spoil your romance novel or thriller).
Another side effect is if you use reading as a way to keep you body busy while you ‘ponder’ something else. The increased comprehension rate and pace of reading will occupy enough awareness to interfere with ‘background’ processing.
FYI, speed reading helps with quieting mind chatter (monkey mind).
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