Directions

1. In a pressure cooker, brown roast in oil on all sides. Remove roast. Add cooking rack; place roast on rack. Add 4 cups of water. Close cover securely; place pressure regulator on vent pipe. Bring cooker to full pressure over high heat. Reduce heat to medium-high; cook for 40 minutes. (Pressure regulator should maintain a slow steady rocking motion; adjust heat if needed.)
2. Remove from the heat; allow pressure to drop on its own. Remove meat and keep warm. Pour pan juices into a bowl; skim fat. Remove rack from cooker. Add potatoes, carrots, onion, garlic, salt, pepper, thyme, bay leaves, pan juices and remaining water to cooker. Cover securely; return cooker to full pressure. Reduce heat; cook for 8 minutes.
3. Immediately cool according to manufacturer's directions until pressure is completely reduced. With a slotted spoon, remove vegetables and keep warm. Discard bay leaves. Combine cornstarch and cold water until smooth; stir into pan juices. Bring to a boil; cook and stir for 2 minutes or until thickened. Serve with beef and vegetables.