That's 1g/lb minimum. Ideally you would go higher (especially when doing a powerlifting-inspired program like 5/3/1 which rips your muscles to shreds), but at the lower limit you'd still be spared muscle breakdown and potential metabolic damage. Some fudge is okay, like .75g/lb one day, then back up the next day, but if you go any lower you will really start to feel burned out.
I'd also recommend what's known in bodybuilding circles as the "clean bulk." Muscle gain may be slower but fitness in terms of general health and vitality are improved. Powerlifting training is hard on the nervous system and can leave your immune system open to infection for a couple hours after training (although it strengthens both in the long run). Add junk food to that and you're looking at fairly frequent common cold infections. On the other hand if you stick to natural foods (by which I mean food in its original form, like salad, stew, chili, meat, veggies, etc., stuff cooked with whole ingredients), it will modulate your immunity to minimize down-time. Down-time is the enemy of progress!
1) eat real food - more vegetables, moderate meat, moderate fruits, less grains, less sugar, less vegetable oils.
2) exercise - moderate intensity cardio, sprinting, heavy lifting, dedicated stretching and mobility.
3) live - relax, de-stress, meditate.
Disclaimer: I'm not professionally qualified to make any formal recommendations. I've just done my homework and I'm my own guinea pig. All of my data, unless otherwise cited, comes from a sample size of n=1 (me).