Cut 1 ½ pounds boneless skinless chicken breast into 1-inch bite size cubes.

Heat 2 tablespoons olive oil and 2 tablespoons salted butter in a large heavy-bottomed pot or Dutch oven over medium heat.

Add in the cubed chicken and season with ½ teaspoon salt and ½ teaspoon black pepper. Cook for about 5 minutes, stirring occasionally, until the chicken is lightly browned on the outside.

Add 1 small yellow onion and cook for 3 to 5 minutes, stirring frequently, until the onions become translucent. Remove the chicken and onion mixture from the pot and set aside in a bowl.

In the same pot, add 2 cups long grain white rice and 1 tablespoon minced garlic. Cook for 2 to 3 minutes, stirring constantly, until the rice is lightly toasted.

Slowly pour in 4 cups chicken broth and 1 (8 ounce jar) salsa. Stir in 1 teaspoon ground cumin, and 1 teaspoon chili powder until evenly combined.

Bring the mixture to a boil, then reduce the heat to medium-low. Cover the pot with a lid and cook for 15 to 20 minutes, or until the rice is tender and most of the liquid has been absorbed.

Turn off the heat and stir in 1 cup heavy cream and 2 cups of the shredded cheddar cheese. Add the chicken and onion mixture back into the pot, stirring to combine.

Sprinkle the remaining 1 cup of shredded cheddar cheese on top. Cover the pot with the lid for 2 to 3 minutes, allowing the cheese to melt. Serve hot.