Now you can have a whole chicken on your table -- tender enough to fall of the bone and ready to serve -- in under an hour. If you want extra roasted flavor, try browning the chicken breast and back first on the high saute setting until golden brown, 6 to 8 minutes.
Generously sprinkle the cavity of the chicken with salt and pepper. Stuff the cavity with the bay leaves, shallots, garlic, lemon and thyme. Generously sprinkle the outside of the chicken with salt and pepper, making sure to get into every nook and cranny.
Fold an 18-inch piece of foil in half lengthwise, then fold it in half again lengthwise, and finally once more in half lengthwise, making a 4 1/2-inch-wide foil sling for the chicken. Put the sling in the center of a large plate and transfer the chicken to the center of the sling.
Put the rack in the bottom of a 6-quart Instant Pot®, add 1 cup water and lower the chicken onto the rack using the sling. Fold down the foil sling as needed so it fits in the pot.
Follow the manufacturer's guide for locking the lid and preparing to cook. Set to pressure cook on high for 18 to 24 minutes (see Cook's Note).
After the pressure-cook cycle is complete, follow the manufacturer's guide for quick release and wait until the quick-release cycle is complete. Being careful of any remaining steam, unlock and remove the lid. Carefully transfer the chicken to a cutting board and let sit for 10 minutes.
Meanwhile, set the pot to high saute and reduce the sauce for 5 minutes. Turn off and let the sauce sit for 5 minutes.
Cut the chicken into pieces and serve with the sauce and the shallots and lemon, if desired.
Settings may vary on your Instant Pot® depending on the model. Please refer to the manufacturer's guide.
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