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Generously salt and pepper both side of the roast, set aside.
Turn on the instant pot sauté function to more, and add the tablespoon of olive oil. When hot, put in the roast and brown on each side for 3-5 minutes.
Pour in the 2 cups of beef broth. Add fresh thyme, fresh rosemary and the onion.
Evenly distribute the potatoes and the carrots in the pot.
Cancel sauté function. Put the lid on the pot and close the valve.
Pressure cook on high pressure for 70 minutes. At the end of cooking allow to natural release for 10 minutes before carefully quick releasing the remaining pressure. The fresh herbs will have mostly fallen off the stems, but, you can shake them gently to help them along before discarding them at the end of cooking time.
OPTIONAL GRAVY: You can remove the meat and vegetables to a serving dish and create an optional gravy. Just whisk together 1/2 cup of cold water with 3 tablespoons of flour until smooth. Set the pot to sauté, high, and let the mixture bubble. Then whisk this mixture into the liquid in your pot.