Preheat the oven to 350 degrees F (175 degrees C). Grease and flour a 12-cup bundt cake pan.
In a large bowl, whisk together the flour, baking powder, baking soda, cinnamon, nutmeg, and salt. Set aside.
In a separate large bowl, cream together the butter and granulated sugar until light and fluffy.
Beat in the eggs one at a time, mixing well after each addition.
Stir in the vanilla extract.
Alternate between adding the dry ingredients and the milk to the wet ingredients, beginning and ending with the dry ingredients. Blend until just combined – don't overmix!
Pour the batter into your prepared bundt pan.
Bake for 40-45 minutes, or until a toothpick inserted into the center comes out clean.
Let the cake cool in the pan for 15-20 minutes before inverting onto a wire rack to cool completely.
While the cake cools, whisk together the powdered sugar and milk for the glaze. Start with 2 tablespoons of milk and add more for a thinner consistency.
Drizzle the glaze over the cooled cake
Notes
For a stronger spice flavor, increase the amount of cinnamon or nutmeg.
Don't overbake! For a moist cake, start checking for doneness around the 40 minute mark.
This cake is delicious on its own, but try adding chopped pecans or walnuts to the batter for extra crunch.