Pat dry meat and generously salt and pepper all sides. 

Set Instant Pot to saute, high. Heat oil until shimmering. In small batches, brown all sides of the meat. About 2 minutes per side. Set meat aside. 

Reduce heat to saute, low and add onions, carrots and bay leaves. Saute until carrots and onions are just tender, about 5 minutes. Add garlic and cook for 2 more minutes. Add 1/4 c. bone broth if bottom of Instant Pot starts getting too brown.

Stir in tomato paste. Sprinkle the mixture with flour and stir until absorbed. Slowly stir in the wine and add the mushrooms. 

Place the meat back to the pot in a single layer. The meat should sit just above liquid line. You can add more bone broth if there is not enough liquid in the pot.  Tuck the thyme between pieces of meat and bring the dish to boil. Cover and set to pressure cook, high for 1 hour. Once done, let slow release for 15 minutes. Carefully release the pressure.

Serve in a shallow bowl over a bed of creamy mashed potatoes.