In a large pot, heat the olive oil over medium heat. Add the chopped onion and sauté for about 5 minutes until it becomes translucent and fragrant.

Stir in the minced garlic and cook for an additional 1-2 minutes until fragrant. Then, add the diced russet potatoes, stirring to coat them with the onion and garlic mixture.

Pour in the chicken or vegetable broth and add the bay leaves, dried thyme, rosemary, along with salt and black pepper to taste. Stir well to combine.

Bring the mixture to a boil, then reduce to a simmer. Cover the pot and let it cook for 20-25 minutes, until the potatoes are tender.

Remove the bay leaves. Using an immersion blender, carefully blend the soup until smooth and creamy, or transfer it to a standard blender in batches.

Stir in the heavy cream and unsalted butter, mixing until fully incorporated.

If desired, add the shredded cheddar cheese into the warm soup, stirring until melted.

Ladle the soup into warm bowls and garnish with freshly chopped parsley and crumbled bacon if desired.