Preheat your oven to 350°F (175°C). Thoroughly grease and flour your Bundt pan, making sure to get into every crevice to prevent sticking.

In a large bowl, whisk together the flour, baking powder, baking soda, salt, cinnamon, ginger, nutmeg, and cloves.

In a separate bowl using an electric mixer, beat the softened butter and both sugars together on medium-high speed until light and fluffy, about 3-4 minutes.

Beat in the eggs one at a time, followed by the vanilla extract and molasses. Scrape down the sides of the bowl as needed.

Reduce the mixer speed to low. Add the dry ingredients in three additions, alternating with the buttermilk in two additions, beginning and ending with the dry ingredients. Mix just until combined—do not overmix.

Pour the batter evenly into the prepared Bundt pan. Bake for 50-60 minutes, or until a wooden skewer inserted into the center comes out clean.

Let the cake cool in the pan on a wire rack for 15 minutes before carefully inverting it onto the rack to cool completely.

In a medium bowl using an electric mixer, beat the softened cream cheese and butter until smooth and creamy.

Gradually beat in the powdered sugar until smooth. Mix in the vanilla extract and milk until the frosting reaches your desired drizzling consistency.

Once the cake is completely cool, drizzle the frosting over the top, letting it drip down the sides. Allow the frosting to set for about 20 minutes before slicing and serving.