In a large skillet, brown the ground beef over medium-high heat. Drain off any excess grease.
Add butter to the skillet and let it melt. Sprinkle the flour over the cooked ground beef and stir to coat evenly.
Gradually whisk in the beef broth, making sure to scrape up any browned bits from the bottom of the skillet. Bring to a simmer.
Stir in the onion powder, garlic powder, salt, and pepper. Reduce heat to low and let simmer for 15-20 minutes, or until the gravy has thickened to your desired consistency, stirring occasionally.
Serve hot over mashed potatoes, biscuits, or toast. Enjoy!
Notes
For a richer flavor, you can add a splash of Worcestershire sauce or soy sauce to the gravy during the simmering process. You can also add sautéed mushrooms or onions to the gravy for added texture and flavor.