Preheat your oven to 350°F (175°C).

In a large mixing bowl, combine ground beef, breadcrumbs, milk, ketchup, egg, salt, pepper, onion powder, and garlic powder.

Transfer the mixture to a loaf pan and shape it into a loaf.

Bake the meatloaf in the preheated oven for about 1 hour.

While the meatloaf is baking, heat a skillet over medium heat.

Add beef broth and Worcestershire sauce to the skillet, bring it to a simmer for 5 minutes.

Mix cornstarch with a little water to create a slurry, and add it to the simmering broth.

Once the meatloaf is cooked, let it rest for 10 minutes before slicing.

Drizzle the warm gravy over each slice before serving.