In a large saucepan, melt the butter over medium heat. Once melted, whisk in the flour to create a roux. Cook for about 2-3 minutes, stirring constantly, until the mixture turns a light golden brown.
Gradually add the turkey drippings and chicken broth to the roux, whisking continuously to prevent lumps from forming.
Bring the mixture to a simmer and cook for about 5-10 minutes, or until the gravy thickens to your desired consistency.
Season with salt, black pepper, thyme, and garlic powder, adjusting to taste.
If the gravy is too thick, add a little more broth to reach your preferred consistency. If too thin, continue cooking until it thickens further.
Serve warm over turkey, mashed potatoes, or your favorite side dishes.