Fast text scrolling in VS Code

Update: Since v1.31 you can now press Alt to enable fast scrolling. It works by activating editor.fastScrollSensitivity.

in Emacs when I hold up/down-arrow [...]

The OP mentioned key strokes as opposed to mouse scrolling.

My solution was at an OS level, i.e. lessen the Key Repeat and Delay Until Repeat settings so that holding the up / down arrows will scroll much quicker.

Important note: This setting will update all key presses regardless of the app.

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If on OSX, this setting can be found in System Preferences under Keyboard, or overwritten directly in the terminal. The following will take effect after a system reboot.

defaults write -g InitialKeyRepeat -int 10 # normal minimum is 15 (225 ms)
defaults write -g KeyRepeat -int 1 # normal minimum is 2 (30 ms)

There is

"editor.mouseWheelScrollSensitivity": 1,  // or any number

You can scroll by pages too:

PageDown or PageUp

Go to File > Preferences > Settings. Search for: mouseWheelScrollSensitivity, change it for 0.01