See the Instant Pot to sauté and add in the oil. When hot, add in the onions and carrot and cook for about 4 minutes until the onion starts to soften.
Then mix in the ground beef, making sure to break up any lumps, and cooked until browned.
Mix in the garlic, tomato paste, Italian Seasoning, bay leaves, balsamic vinegar, followed by the chicken stock, at which point you will want to deglaze the pot using a wooden spoon.
Add in the diced tomatoes but DO NOT MIX in (leave on top).
Place the lid on the Instant Pot, turn the valve to sealing, and set to pressure cook (or manual) for 20 minutes at high pressure.
When done, quickly release the pressure, discard bay leaves, adjust seasonings, and serve.