Hit SAUTE on a 6 quart Instant Pot, once it reads HOT add in butter and allow to melt.
Once melted, add in onions and cook for 5 minutes, stirring regularly.
Add in bell pepper and garlic and cook for an additional 30 seconds.
Hit CANCEL on the IP, then pour in chicken broth, scrapping up any brown bits that may have stuck to the bottom of the pot. This helps avoid a BURN notice.
Stir in tomatoes, corn juice (not the actual corn yet), and raw chicken.
Sprinkle the chicken with taco seasoning and ranch seasoning — do not stir, this helps avoid a BURN notice.
Cover and lock the lid, be sure the pressure valve is pointed toward SEALING.
Cook on HIGH pressure for 10 minutes.
Once the cook time is up, allow the IP to naturally release for 10 minutes before flipping the pressure valve to relieve any remaining pressure.
Remove chicken and set aside.
Whisk cream cheese and sour cream into the IP until smooth, then stir in the beans and chiles.
Cube or shred chicken, then stir into the chili.
Taste and season with salt, then enjoy with your favorite chili toppings.
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