What does the Slip tool do in Premiere Pro?

The Slip tool in Premiere Pro is specifically designed to adjust the In and Out points of a clip without altering its position on the timeline. This means that when you use the Slip tool to "slide" the clip, the surrounding clips remain undisturbed, allowing for precise adjustments to the timing and content of the clip while keeping its temporal placement intact. The visual representation of this action shows the clip’s content moving within the predefined duration, thus allowing for a seamless editing experience without affecting the overall timeline structure.

In contrast, the other options represent different functionalities within Premiere Pro. For instance, while cutting clips across multiple tracks involves different tools, adjusting speed or allowing for fixed movement with source points pertains to other editing techniques. Understanding these distinctions helps in maximizing the use of Premiere Pro's capabilities.