American road laws are insane here. The law should be simple; you must be in the outside lane at all times unless you are overtaking, and once you're done overtaking, you should merge back into the outside lane.
For example, the specific law in California: https://leginfo.legislature.ca.gov/faces/codes_displaySectio...
Seems like this is the only place where the verge is in the inside.
Obviously fast and slow are just colloquial terms.