Pat the pieces of beef dry with a paper towel. Season with salt and pepper, set aside.
Add the carrots, onion, celery, and mushrooms to a dutch oven or heavy bottomed soup pot with 2 tablespoons of olive oil. Saute over medium high heat until softened and just beginning to brown. Remove the vegetables from the pot and set aside.
Add 2 tablespoons olive oil to the pot, sear the pieces of beef in the pot in batches until all of the beef has been seared. Place all of the beef back into the pot.
Add 2 Tablespoons of butter and ¼ cup of flour to the beef, stir to coat the beef. Let cook for 2-3 minutes, stirring frequently to prevent burning.
Deglaze the pot with 16 oz of Guinness beer, scraping up any bits off the bottom of the pot.
Add the fresh rosemary, fresh thyme, bay leaves, tomato paste, chicken bouillon, garlic powder, 2 teaspoons brown sugar, 1 teaspoon black pepper, and ¼ teaspoon of salt.
Add the beef broth and water and mix to combine.
Add the cooked vegetables.
Bring to a boil then reduce heat to a simmer, cover with lid and let simmer for at least 2 hours, stirring occasionally.
About halfway through, give the stew a taste, add any additional salt, pepper or brown sugar as needed.
Once the beef is tender you can serve the stew at any time. Serve over a large scoop of mashed potatoes.