Cut cream cheese into small cubes and set aside to soften. Spray bottom of Instant Pot insert with cooking spray or lightly oil.
Wash and dice potatoes; put directly into pot. Pour in chicken broth and all seasonings. Stir.
Place lid on pot and set to sealing. Cook for 10 minutes on HIGH.
When cook time is up let the pressure naturally release for 10 minutes and then quick release remaining pressure. While letting the pressure release manually cook the bacon & in a small bowl mix the milk & cornstarch.
Remove lid from the pot & set to saute. Once the soup is simmering pour in the cornstarch mixture and stir. Add in the cream cheese and cheddar cheese, stirring until melted (about 4 minutes).
Turn off Instant Pot and allow to cool about 10 minutes before serving.
Top with crumbled bacon & chives.
Serve and Enjoy!
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