In a large pot, over medium-high heat, cook the butter, onions, sweet potatoes, chili powder, garlic powder, smoked paprika, cumin, and cayenne. Cook until the onions begin to soften, about 5 minutes.
Stir in the salsa, tomato paste, and green chiles. Pour in 2 cups of broth and add the bay leaves. Season with salt. Stir to combine. Bring to a simmer, then reduce the heat to low. Partially cover and cook for 20–30 minutes, until the sweet potatoes are tender. For even more flavor, let the chili simmer longer over low heat, stirring occasionally and adding broth as needed.
Reduce the heat to low. Remove the bay leaves, then stir in the black beans, softened cream cheese, and cheddar. Cook for about 5 minutes, stirring until the cheeses are melted and the chili is creamy
Ladle into bowls and add your favorite toppings. I love Greek yogurt, cheddar, avocado, cilantro, and green onions. Serve warm and enjoy!