Step 1

Preheat the oven to 350F. Spray a loaf pan with cooking spray and line with parchment paper.

Step 2

In a large bowl, add the eggs, sugar, and vanilla. Whisk until combined.

Step 3

Add the oil and milk and whisk again. Stir in the grated carrots using a silicone or rubber spatula.

Step 4

Add the flour, baking powder, cinnamon, and nutmeg and stir until you have a thick pourable batter. Fold in the crushed walnuts, if using.

Step 5

Pour the batter into the prepared loaf pan. Give it a tap or gently shake to distribute the batter evenly. Bake for about 50 minutes, or until a toothpick comes out of the center of the loaf clean. Let the loaf cool completely before icing.

Step 6

In a bowl, combine the softened cream cheese and butter. Using a hand-held electric mixer or a stand mixer fitted with the paddle attachment, cream together the cream cheese and butter until smooth. Add the vanilla and mix again. Add the powdered sugar and combine, using a silicone or rubber spatula. (I switch to a spatula here because the electric mixer will send the powdered sugar flying all over the kitchen.) Mix until silky smooth.

Step 7

If the icing is too soft, put it in the fridge for 10 to 30 minutes to firm up, before adding it onto the cake.

Step 8

Evenly spread the icing onto the cake, slice, and enjoy!