Select Sauté on Instant Pot/Mealthy (or select the "Meat" button on other brands of pressure cookers) and allow pot to fully heat.
Add slices of bacon and cook until crisp. Remove bacon to a paper towel lined plate and discard all but 1 Tablespoon of bacon grease.
Add butter and stir though onions until butter begins to foam.
Add shallots and cook for 30 seconds. Add minced garlic, chili paste, salt and pepper and mix through.
Push "Cancel" and add potatoes, chicken broth and cream.
Lock on lid and close pressure valve. Cook at high pressure for 5 minutes. When beep sounds, wait 20 minutes and then slowly and carefully release the rest of the pressure.
Open lid and add sour cream.
Use an immersion blender and process until smooth, leaving some chunks for texture if desired. Taste and adjust seasonings if needed.
Ladle soup into bowls and top with cheese, chives and bacon.
Sambal Oelek Ground Chili Paste will not make this Instant Pot Baked Potato Soup Spicy. It is a very nice and pure chili flavor, which does not interfere with other flavors and will boost up the flavor. You can leave it out, if you like, but I suggest trying it with the chili paste, at least once.Russets are a starchy potato and normally it is recommended to soak them in water prior to cooking. However, in this baked potato soup recipe, there is no need to soak. Since they offer up some starch, you won't have to add any flour or potato starch to thicken. Natural potato starch is built right in.Yukon Gold potatoes have a nice and creamy center with hints of butter. They do very well in liquids too!P.S. If you see a pressure cooker recipe for potato soup, which has you add in cornstarch or potato starch at the end to thicken the soup, run. Clearly the author doesn't have a grasp of pressure cooking and probably just took a stove top recipe and tried to cook it in the pressure cooker, not realizing about the starch from the Russets and also that less liquid is needed and the reason why less is needed.