Add the ground beef, onions and bell peppers to the pot, cooking until the meat is no longer pink.
Drain excess grease off of the meat mixture and then return to the pot.
Add the beef broth and scrape the bottom to remove any cooked on bits. Press cancel to end the “saute” mode.
Next, add the garlic powder, soy sauce, Worcestershire sauce, and brown sugar to the ground beef and stir well.
Over the beef, dollop the ketchup, tomato paste, and dijon mustard. Do not mix together.
Place the lid on the Instant Pot and set the valve to sealing. Program to “pressure cook” or “manual” for 5 minutes.
When the cooking cycle is complete, allow the electric pressure cooker to naturally release the pressure for 10 minutes before performing a quick release of the remaining pressure.
Carefully remove the lid. If there is too much sauce, press “cancel” and then “saute.”
Cook, stirring often, until the liquid has evaporated.