Steps

• Set Instant Pot to sauté mode and heat olive oil. Add beef chunks, searing on each side for 5-7 minutes until browned. Remove and set aside.
• In the same pot, add onions and sauté until translucent. Add garlic; cook for an additional 30 seconds.
• Deglaze the pot with a bit of beef broth, scraping up all browned bits.
• Return beef to the pot with carrots, potatoes, rest of the broth, tomato paste, Worcestershire sauce, thyme, rosemary, salt, and pepper. Stir well.
• Secure the lid and pressure cook on high for 35 minutes. Naturally release pressure for 10 minutes, then quick release any remaining pressure.
• Set to sauté mode; if desired, mix in cornstarch slurry to thicken stew.