Using the flavor concentrating magic of the Instant Pot, we reach next-day level of delicious chili deliciousness in under an hour with this bold and meaty Beef and Bean Chili. Although optional, simmering beef bones in the chili makes it extra rich and we’d highly recommend trying it. If you ask your butcher for some spare beef bones when you go to pick up stew meat, they will likely be more than happy to help you out. We like to serve such a robustly savory chili with bright toppers like sour cream, fresh cilantro, fresh jalapeño, and a sprinkle of sharp cheddar, but feel free to dress your bowl up however you like. Finely chopped onion and some avocado wedges would also be welcome here.
Set Instant Pot on saute setting, and add oil. Add beef; cook until browned, about 10 minutes, stirring after 5 minutes. Transfer beef to a plate; set aside. Add onion and poblano to Instant Pot; cook, stirring occasionally, until starting to soften, about 3 minutes. Stir in tomato paste, chili powder, salt, black pepper, and sugar. Cook, stirring often, 2 minutes. Add browned beef, broth, tomatoes, beans, and, if using, bones; bring to a boil. Cover with lid, and set timer to 30 minutes on high pressure.
Carefully release steam according to manufacturer’s instructions. Remove and discard beef bones. Top servings evenly with cheese, sour cream, cilantro, and jalapeño slices.