Heat the pressure cooker using the sauté function or over medium-high heat. Add enough olive oil to coat the base.
Brown the beef in batches, then transfer it to a plate.
Add a little more oil if needed. Cook the onion over medium heat until tender and lightly browned.
Add the garlic, long hot pepper and Cubanelle pepper. Cook for 3 minutes, stirring often.
Add the chili powder, cumin and red pepper flakes. Cook for 30 seconds.
Pour in the beer and scrape up the browned bits from the base.
Return the beef to the cooker. Add the broth, tomatoes and black beans.
Lock the lid and bring the cooker to high pressure. Cook for 20 minutes.
Allow a 10-minute natural pressure release, then release any pressure still in the cooker according to the manufacturer’s instructions.
If the chili is thinner than you want, simmer it uncovered using the sauté function.
Serve with shredded cheese and sour cream.