Heat 2 Tbsp. vegetable oil in the Instant Pot over medium heat/saute mode set to medium until the oil is hot and “jumps” when sprinkled with water. (see note 1)
While the pot heats, season 3 lbs. chuck roast or bottom round roast cut into 1″ cubes with 1 tsp. fine sea salt.
Add ⅓ of the beef cubes in a single layer and sear until well-browned on one side, about 3 minutes. (see note 2)
Flip the beef and repeat on the other side. Remove browned beef to a bowl, and continue cooking until all beef is browned.
Add 1 finely chopped large onion and 2 cloves finely minced garlic to the Instant Pot. Sprinkle with 1 tsp. dried thyme and ½ tsp. sea salt.
Stir in one 15 oz. can of tomato sauce. Saute until the onion mixture softens, about 5 minutes. Scrape the bottom of the pot occasionally to loosen up any browned bits and stir them in – that’s flavor!
Pour in ½ cup red wine and bring to a simmer. Simmer for 1 minute.
Add the beef back to the mixture with any juices in the bowl. Stir well.
Pour in 1 cup beef broth and 1 lb. peeled 1 ½″ length carrots, and stir.
Lock the lid on the pressure cooker. Cook on high pressure for 15 minutes (“Manual” or “Pressure Cook” mode on the Instant Pot).
Once the fifteen minutes is up, let the pressure come down naturally for about 20 more minutes. (see note 3)
Carefully remove the lid, tilting it away from you to avoid the hot steam.
Whisk ¼ cup water and 1 Tbsp. cornstarch to make a cornstarch slurry, then stir the slurry into the stew.
Stir in ½ tsp. fresh ground black pepper and more salt to taste. Serve, and enjoy!