Set your instant pot to the SAUTE setting until it it hot.
Season the meat with kosher salt and black pepper.
2 pounds boneless stew beef, 2 tablespoons olive oil, Salt and black pepper
Start with 1 tablespoon of oil and sear the beef in batches until the meat is browned on all sides. Add additional oil as needed.
Return all the meat to the pot and stir in garlic and tomato paste. Cook for 1-2 minutes until the garlic is fragrant.
4 cloves garlic, 1 6 ounce can tomato paste
Pour beef broth or beef stock and scrape the bottom of the pot to deglaze the pan. (All the browned bits add great depth of flavor to the soup).
12 cups beef broth
Add the vegetables, parsley, thyme, and bay leaf. Mix well.
6 carrots, 3 russet potatoes unpeeled, 1 12 ounce package frozen green beans, 2 tablespoons dried parsley, 1 bay leaf, 2 teaspoons dried thyme leaves
Cover the pressure cooker and set to MANUAL or PRESSURE COOK for 8 minutes. When the cooking time is up, quick release the pressure.
Set the instant pot back to SAUTE and add the frozen peas and quick-cooking barley, pasta, or rice. Cook for 10-12 minutes until tender.
1 ½ cup quick cooking barley, 2 cups peas
Remove the bay leaf and serve hot.