Brown the ground beef in a skillet with the minced onion and garlic powder. (Note: You can use the saute function within the Instant Pot to brown the ground beef, but I prefer to do it in a skillet.)
Add the browned ground beef, diced tomatoes, drained black beans, drained corn and chopped green bell peppers with the chili powder, ground cumin, lime juice and beef broth to the Instant Pot insert.
Set on High and cook for 15 minutes.
Let release naturally, then open it up. Season with salt and pepper to taste.
Ladle chili into bowls and garnish with sour cream and/or shredded cheese, and serve with side salad.