Step 1

Select saute or browning setting on a 6-qt. electric pressure cooker. Adjust for medium heat; add oil. When oil is hot, brown roast on all sides. Press cancel and remove roast. Place trivet insert and 4 cups water in pressure cooker. Set roast on trivet. Lock lid; close pressure-release valve. Adjust to pressure-cook on high for 40 minutes. Let pressure release naturally.

Step 2

Remove roast and keep warm. Remove trivet. Skim fat from cooking juices and stir in remaining 1 cup water. Add potatoes, carrots, onion, garlic, salt, pepper, thyme, bay leaves. Lock lid; close pressure-release valve. Adjust to pressure-cook on high for 8 minutes. Quick-release pressure.

Step 3

Remove vegetables with a slotted spoon; keep warm. Remove and discard bay leaves. In a small bowl, mix cornstarch and 1/4 cup cold water until smooth; stir into pressure cooker. Select saute setting and adjust for low heat. Simmer, stirring constantly, until thickened, 1-2 minutes. Serve with roast and vegetables.