Turn on the Instant Pot using the saute function, and allow the steel liner to get hot.
Add the ground beef, onions, bell peppers, mushrooms, salt, onion powder, garlic powder, and Italian seasoning. Cook and break up the ground beef into small pieces. Continue to saute until the ground beef is browned and cooked through. Turn off the saute function, and drain the grease if desired.
Pour in the broth and tomatoes, but do NOT stir. Close the machine, and ensure the valve is set to sealing. Press the manual (pressure cook) button, and adjust the time to 3 minutes. After the time is up, open the valve for a quick release.
Carefully remove the lid, and stir the contents. Serve over pasta noodles or store in the refrigerator for later use.
The calories listed are an approximation based on the ingredients and a serving size of half (1/2) a cup of the meat sauce. Actual calories will vary.