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Turn on pot to Sauté function (Normal/Med heat). When the display reads Hot, add the bacon. Stir, and cook until mostly done. Spoon out any excess fat.
Add the onion and cook, stirring occasionally for a couple of minutes.
Add garlic, bay leaf, cumin, paprika, oregano, chili powder, salt, pepper, and coriander powder, stirring frequently. Don't let the garlic burn. You can add a little of the broth if it looks like it is too hot.
Add the broth. Stir.
Add the beans. Stir.
Put the lid on the pot and lock it in place. Set the steam release knob to the Sealing position.
Cancel the Sauté function.
Press the Pressure Cook (Manual) button or dial and then the + or - button or dial to choose 35 minutes.
When the cooking cycle ends, let the pot sit for 15 minutes (natural release). Then turn the steam release knob to the Venting position to release the remaining pressure/steam (there may not be any, and that's okay).
When the pin in the lid drops, open the lid and stir the beans. Taste and adjust salt, if needed.
Garnish as desired and serve.