Add the macaroni, broth, water, butter, garlic powder, and salt and pepper to a large pot over high heat.
As soon as the mixture comes to a boil, reduce the heat to medium-low and gently simmer, stirring frequently (every 1-2 minutes) until the noodles are cooked through.
Remove the pan from the heat. Add the milk, hot sauce, and dijon mustard.
Add the cheese in thirds, stirring between each addition until well incorporated and smooth.
Serve immediately. Refrigerate leftovers for up to 3 days.
***NOTE ON CHEESE: You can use your favorite shredded cheese for this recipe, we like to use a mix of sharp cheddar and parmesan. For best results, you need to use freshly shredded cheese and not pre-shredded bagged cheese.NOTE ON LIQUID: You can use all chicken broth or all water for this recipe if desired. I found through testing that 2 cups of each resulted in the best flavor. During cooking, if your macaroni is still very liquid about 6 minutes in, turn up the heat and simmer stirring constantly. Alternately, if your macaroni is drying out too fast, reduce the heat slightly and add in ¼ cup of extra water at a time.