Agile is not there for higher velocity! It is sold to management that way often, but intrinsically - no.

Agile though is meant to reduce waste. In other words, you don't march faster, but are supposed to spend more time marching in the right direction. (I personally loathe agile and find it intrinsically broken.. I just find it kind of funny that a process oriented around dynamic environments is supposed to give predictability and speed, when it gives neither. If anything, a lack of predictability since direction can change)