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Step 1
Trim the beef roast of the fat and cut into large chunks, about 4-8 chunks depending on how many pounds of meat. In a small bowl, stir together onion powder, garlic powder, salt, black pepper, and paprika. Rub the spice mixture on the beef chunks; set aside.
Step 2
Heat the the Instant Pot by pressing SAUTE. Drizzle oil into Instant Pot, wait one minute, then using tongs place enough of the chunks to touch the bottom of the pot. Do not move for 3-4 minutes until well seared and browned. Use the tongs to turn the beef onto another side for 3-4 minutes, repeating until all sides are browned. Remove from the pot and place on a half baking sheet and repeat with the other chunks of beef roast until they are all browned.
Step 3
Switch the Instant Pot to PRESSURE COOK on High Pressure for 50 minutes for a 3-pound and 70 minutes for a 6-pound beef roast. Place all of the beef back in the Instant Pot along with the onions, fresh rosemary, fresh thyme sprigs, and garlic cloves. Pour the Beef Stock and Worcestershire sauce over the beef roast. Place the lid on the pot and turn to the lock position. Make sure the vent is set to the sealed position.
Step 4
When cooking time is up, turn the vent to the release position, wait for the float valve to drop down, and open the lid. Add the carrot chunks and whole baby potatoes. Seal the lid again and press PRESSURE COOK on High Pressure for 15 minutes.
Step 5
When cooking time is up, do a natural release for 15 minutes. Then turn vent to the venting release position and allow all of the steam to vent and the float valve to drop down before removing the lid. Transfer the beef roast, carrots, onions, and potatoes to a serving platter and shred the roast with two forks into chunks. Ladle some of the warm beef stock over the shredded beef. Cover loosely with aluminum foil while making the gravy.
Step 6
Make the gravy: Using a small mesh strainer over a 2 or 4 cup liquid measuring cup, ladle 2 cups of warm beef stock. In a small cup or bowl, whisk together the 2 Tbsp cornstarch and ¼ cup water. Discard the rest of the stock in the Instant Pot and set to the SOUP setting. Whisk together the cornstarch-water mixture and the strained 2 cups beef stock. Continue whisking until the gravy thickens. Add salt, black pepper, and garlic powder, to taste. Serve the beef gravy with the beef roast, carrots, and potatoes. (The gravy can also be made on the stove top in a small sauce pan over medium heat).