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To make the pimento cheese:
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Place shredded cheddar cheese, cream cheese, and mayo into the bowl of a stand mixer and mix until well combined.
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Add ancho chili powder, garlic powder and continue to mix.
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Mix in jalapeno and drained pimentos.
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Transfer mixture to glass container and store in the refrigerator overnight.
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To make the Pimento Cheese Smashed Potatoes:
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Take Pimento Cheese out of the refrigerator and allow it to come to room temperature.
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Place potatoes into pot of water with one teaspoon of salt.
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Bring water to a boil then turn down to a simmer until potatoes are fork tender, 25-30 minutes.
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Allow to cool slightly.
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Add potatoes to stand mixer along with 4 Tablespoons butter (use all 8 Tablespoons if you plan on serving immediately) and 1 teaspoon of salt and mix until desired consistency.
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Add pimento cheese and mix until well combined.
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If making ahead, place into a slow cooker on keep warm.
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Just before serving, melt additional 4 Tablespoons of butter on top of potatoes and mix before serving.