Add 1 tablespoon of the olive oil to the pressure cooker and heat using the "Sauté" option.
While the oil is heating, sprinkle the garlic powder, the extra salt, and the extra pepper onto the beef pieces.
In two batches, add the beef to the heated pressure cooker and sauté for 3-4 minutes.
Turn and sear the other side for an additional 3-4 minutes.
Remove the beef from the pressure cooker and place it on a plate.
Add the remaining 1 tablespoon of the olive oil to the pot and let heat.
Add the diced onions, the shredded carrots, and the minced garlic to the pot and cook until the onions are translucent, about 3-4 minutes.
Add the beef broth into the pot and, using a wooden spoon, scrape the bottom of the pot to incorporate the brown bits.
Add the seared beef back into the pot along with any accumulated juice on the plate. Add the tomatoes and their juices, the tomato paste, the remaining 1 teaspoon of the salt, the remaining 1/4 teaspoon of the black pepper, and the dried thyme, stirring to incorporate.
Place the bay leaves on top, but do not stir them in.
Put the lid on the pressure cooker and set the valve to the "Sealed" position.
Select the "Meat/Stew" option and set the cooking time for 35 minutes.
When the cooking time has finished, allow for the automatic release of about 10 minutes, and then very carefully turn the vent to “Venting” for quick release.
Wait until all of the steam has released and the valve has dropped. Remove the lid.
Remove and discard the bay leaves. Remove the beef from the pressure cooker and place it on a plate.
Transfer the beef from the pot and using two forks, shred the meat. Leave the sauce in the pressure cooker pot.
Select the "Sauté" function on the pressure cooker and add the cooked pappardelle to the sauce, stirring to incorporate.
Let the pappardelle simmer in the sauce, stirring occasionally, until the sauce has thickened, about 2-3 minutes.
Add the shredded beef to the pappardelle mixture in the pot and let it simmer to reheat the meat, stirring gently.
Garnish with the parmesan cheese and the parsley and serve!