In your Pressure Cooker cooking pot, combine water, rice, cinnamon stick and salt.
Lock the lid and close Pressure Valve. Cook on High Pressure for 4 minutes.
When Beep sounds, allow a 10 minute Natural Pressure Release and then do a Quick Release to remove any remaining pressure.
Open lid and add 2 cups of the milk and the sugar to pressure cooking pot and stir to combine.
Add the eggs and vanilla into the measuring cup with the remaining milk and whisk well to combine.
Slowly pour into Pressure Cooker cooking pot, stirring as you go.
Select the Sauté or Browning function and allow pudding to come to a slow boil, stirring constantly. Continue to whisk for one minute only.
Remove cooking pot from Pressure Cooker, add raisins and mix together.
Serve with a dollop of whipped cream, sprinkled with cinnamon and nutmeg, if desired.
Rice Pudding will thicken as it cools.
Eat warm or put in refrigerator to chill.
If you prefer a firmer texture, cook for just 3 minutes.