Begin by patting the beef stew meat dry with a paper towel. In a large, heavy-bottomed pot, heat 2 tablespoons of olive oil over medium-high heat. Once the oil is shimmering, add the beef in batches, browning it on all sides for about 5-7 minutes until richly colored. Remove the beef and set it aside on a plate, leaving the drippings in the pot.

In the same pot, add a diced onion and sauté for about 3-4 minutes until it becomes translucent. Next, stir in minced garlic and cook for an additional 30 seconds.

Then, add chopped carrots, celery, and diced potatoes, sautéing for another 5 minutes to develop flavors and tenderness.

Stir in 2 tablespoons of tomato paste and deglaze the pot with 4 cups of beef broth. Return the browned beef to the pot along with dried thyme, rosemary, and bay leaves. Season with salt and pepper, cover, and simmer for 1.5 to 2 hours.

In a mixing bowl, combine 2 cups of all-purpose flour, 2 teaspoons of baking powder, and a pinch of salt. Cut in 1/4 cup of cold butter until the mixture resembles coarse crumbs. Gradually stir in 1 cup of milk until just combined.

Once the beef stew is tender, drop spoonfuls of dumpling dough on top of the simmering stew. Cover the pot and steam the dumplings for about 15 minutes without lifting the lid.

After 15 minutes, check the dumplings for doneness; they should be puffed up and firm to the touch. Serve hot, ladling both the hearty beef stew and fluffy dumplings into bowls.