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Rinse and scrub potatoes to remove any visible dirt and then cut into 1-inch chunks.
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Add bacon to a 6-quart Instant Pot set to the saute function and cook for 6-8 minutes, or until crispy.
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Remove bacon using a slotted spoon and keep the remaining bacon fat in the pot. Let the bacon pieces drain on a paper towel lined plate.
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Add butter, onion and celery and saute for 2-3 minutes. Add garlic and continue sauteing for an additional 30 seconds, or until fragrant.
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Pour in the broth and then add the dried herbs, salt, and pepper. Scrape the bottom of the pot to release any bits or pieces that might be stuck.
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Add the peeled and cubed potatoes to the pot and submerge them as far into the liquid as possible.
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Using the manual function, set the Instant Pot to high pressure and the timer to 10 minutes. Quick release the pressure as soon as the timer goes off.
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While the soup is cooking, whisk together warmed milk and cornstarch in a medium-sized bowl to make a slurry.
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Once the soup has cooked, pour in the slurry, give it a good stir, and then puree the soup using an immersion blender until smooth. Alternatively, you can carefully transfer the hot soup to either a food processor or high speed blender and blend until smooth.
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Serve the soup with all of your favorite baked potato toppings: shredded cheese, sour cream, green onions, and those reserved bacon pieces. Enjoy!