Instant Pot Chili

Name: Instant Pot Chili
Ingredients: 1 tbsp. extra-virgin olive oil; 1 yellow onion, chopped; 3 cloves garlic, finely chopped; 2 tbsp. tomato paste; 1 1/2 lb. ground beef; 2 c. low-sodium beef broth; 1 (15-oz.) can black beans, rinsed, drained; 1 (15-oz.) can fire-roasted diced tomatoes; 1 (15-oz.) can kidney beans, rinsed, drained; 1 tbsp. plus 1 1/2 tsp. chili powder; 1 tsp. dried oregano; 1 tsp. ground cumin; 1/2 tsp. cayenne; Kosher salt; Freshly ground black pepper; Shredded cheddar, sour cream, Fritos or tortilla chips, and sliced scallions, for serving