Prepare the chicken by seasoning both sides of each breast with salt and pepper. Set aside.
Turn the pot on Sauté setting. When the display reads "Hot" add the olive oil, then the chicken. You may need to brown the chicken in two batches.
Cook chicken for about 2 minutes per side (to get some color), then remove to a plate.
Add the butter and onion to the pot. Cook, stirring occasionally and scraping up the browned bits from the bottom of the pot. Use a little of the broth if it's hard to get the bits up.
Add the garlic and thyme. Cook for 30 seconds, stirring constantly.
Add the broth, lemon juice, and salt. Stir well.
Cancel the Sauté setting.
Place the chicken in the pot and close the lid. Set the steam release knob to the Sealing position.
Press the Pressure Cook (or Manual) button and then the + or - button to choose 7 minutes. When cook cycle ends, let the pot naturally release pressure for 7 minutes. Then manually release the remaining pressure by turning the steam release knob to Venting.
When the pin in the lid drops, open the lid and using tongs, remove the chicken to a plate and cover loosely with foil.