In a heavy deep pot (like a Dutch oven) heat half of the fat over medium-high heat. Add the meat in three batches, removing each batch from the pot after it browns. The meat doesn’t need to be cooked all the way through, just browned on the outside.

Once the meat is out of the pot, add the rest of the fat followed by the onions and paprika. Stir the onions as they cook, for about five minutes.

Add garlic and caraway seeds. Add vinegar and tomato paste and cook 1 minute, whisking constantly. Add the meat back to the pot along with the salt and bell peppers.

Pour in the broth. The meat should be fully covered by liquid. If needed, add a cup or so of water. Bring to a gentle boil.

Simmer goulash, covered, stirring occasionally, for an hour and half, or slightly longer if meat isn’t tender enough. If you want very little broth, you can remove the lid halfway through the cooking time.