Rinse and sort the dried pinto beans, removing stones, debris, and shriveled beans. Soaking is optional; if soaked for 6–8 hours or overnight, drain them before cooking.

Set the Instant Pot to Sauté. Add the bacon fat, lard, or neutral oil, then cook the diced onion for 3–5 minutes until softened.

Add the garlic, jalapeno, cumin, chili powder, and black pepper. Cook for about 30 seconds, stirring constantly so the garlic and spices become fragrant without burning.

Add the beans, water or unsalted chicken broth, and bay leaf. Stir well and scrape up any browned bits from the bottom of the pot.

Lock the lid and cook unsoaked beans on High Pressure for 30–35 minutes. For soaked beans, cook on High Pressure for 15–20 minutes.

Allow the pressure to release naturally for at least 15 minutes, preferably up to 20 minutes, before carefully venting any remaining pressure. Remove the bay leaf.

Stir in the kosher salt if it was not added earlier, taste, and adjust the seasoning. Mash a small portion of the beans against the side of the pot or simmer uncovered for several minutes if you prefer a thicker, creamier texture.