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Step 1
Set your pressure cooker to the SAUTE setting. Drizzle chicken with 1 tablespoon olive oil and rub all over to coat. Season all over with salt, pepper, garlic powder, paprika, and Italian seasoning.
Step 2
Drizzle remaining 1 tablespoon of olive oil into the pan, use a rubber spatula to spread the oil around to coat the bottom of the pot. Immediatley add chicken and cook for 1-2 minutes on each side to brown the chicken. Remove chicken, pour in 1 cup broth, return chicken to pot.
Step 3
Place lid on the pot and slide into the locked position. Turn the venting valve to the SEALED position. Set your pressure cooker to PRESSURE COOK or MANUAL and set time to 8 minutes (for large chicken breasts do 10 minutes).
Step 4
Once cook time is up, do a QUICK RELEASE by turning the vent valve to the VENT position. Once float valve drops, remove lid and transfer chicken to a plate and cover to keep warm.
Step 5
Set pressure cooker to SOUP. Add remaining 2 cups chicken broth to the pot. In a small bowl whisk together cold water and corn starch til dissolved. When the chicken broth comes to a boil, stir in the corn starch slurry. Turn pressure cooker OFF.
Step 6
Season gravy generously with salt and pepper to taste. As it cools the gravy will thicken slightly. Serve over chicken.