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Step 1
Trim 2 pounds beef chuck of any large pieces of fat and cut into 1 1/2-inch pieces. Peel and cut 4 medium carrots crosswise into 2 1/2-inch pieces. Dice 1 medium yellow onion. Cut 1 (8-inch) lemongrass stalk in half crosswise and crush it with the back of your knife to release the aromatics. Mince 2 garlic cloves. Peel and mince 1-inch ginger (about 1 teaspoon).
Step 2
Heat 1 tablespoon vegetable oil in a 6-quart or larger electric pressure cooker on the Sauté function until shimmering. Add half of the beef and sear until browned on 2 sides, about 3 minutes per side. Transfer to a bowl and repeat with the remaining beef.
Step 3
Add the onion, lemongrass, ginger, and garlic to the pressure cooker and cook until the onion is starting to look translucent, about 2 minutes. Add 2 tablespoons tomato paste, 1 tablespoon packed light brown sugar, 2 whole star anise, 2 dried bay leaves, and 1/4 teaspoon ground cinnamon. Sauté until fragrant and the tomato paste darkens in color, about 4 minutes.
Step 4
Pour in 3 cups low-sodium beef broth and scrape up the browned bits from the bottom of the pot. Return the beef and any accumulated juices to the pot, then add the carrots (no need to stir). Turn off the pressure cooker.
Step 5
Lock on the lid and make sure the pressure valve is set to seal. Set to cook under HIGH pressure for 30 minutes. It will take 7 to 15 minutes to come up to pressure.
Step 6
When the cook time is up, let the pressure naturally release for 10 minutes. Quick release any remaining pressure.
Step 7
Open the pressure cooker, add 2 tablespoons fish sauce, and stir to combine. Remove and discard the star anise, bay leaves, and lemongrass with a spoon. Taste and season with more fish sauce as needed.
Step 8
Though Bò Kho is generally referred to as a stew, it will be a bit more soupy than a true stew. Serve topped with chopped cilantro and lime wedges on the side if desired. You can add a side of fresh, crusty baguette (my preference), or serve it over vermicelli or white rice. This dish only gets better the next day, as the flavors sit and marry.