Rack of Lamb with Cherry-Port Sauce

Preheat oven to 450°.

Sprinkle lamb with 1/4 teaspoon salt and 1/4 teaspoon pepper.

Heat oil in a large nonstick ovenproof skillet over medium-high heat. Add lamb, and brown on all sides (about 5 minutes). Remove from heat; place pan in oven. Bake lamb at 450° for 12 minutes or until thermometer registers 145° (medium-rare) or until desired degree of doneness. Transfer lamb to a serving platter. Cover and let stand 10 minutes.

Place pan over medium heat. Add wine, vinegar, and broth; cook until liquid is reduced to about 2/3 cup, scraping pan to loosen browned bits. Add cherries and jelly; simmer 1 minute. Stir in remaining 1/4 teaspoon salt, remaining 1/4 teaspoon pepper, and thyme.

Cut lamb into chops. Serve with sauce.