Set the Instant Pot to Sauté mode. Heat the oil, then add the beef in batches and brown on all sides, about 4–5 minutes. Add the onion and garlic, and sauté for another 2 minutes until fragrant.
1 ½ pounds beef stew meat, 2 tablespoons olive oil, 1 small onion, 2 cloves garlic
Press Cancel, then stir in the tomato paste to coat the beef. Add the carrots, potatoes, broth, salt, pepper, and herbs if using. Mix everything well.
3 medium carrots, 2 medium potatoes, 2 tablespoons tomato paste, 3 cups beef broth, 1 teaspoon salt, ½ teaspoon black pepper, 1 teaspoon dried thyme or rosemary
Secure the lid, set the valve to sealing, and cook on high pressure for 25 minutes. Let the pressure naturally release for 10 minutes, then do a quick release.
For a thicker stew, stir together cornstarch and water in a small bowl. Turn the pot back to sauté and stir in the slurry. Cook for 2–3 minutes, until the stew thickens.
1 tablespoon cornstarch, 1 tablespoon water
Serve warm and enjoy this hearty, comforting meal!