Preheat the oven to 350°F (175°C) and grease a bundt pan.
In a large bowl, cream together the butter and brown sugar until light and fluffy.
Add the eggs one at a time, mixing well after each addition.
Stir in the molasses and milk until fully combined.
In a separate bowl, whisk together the flour, baking soda, salt, and spices.
Gradually add the dry ingredients to the wet mixture, stirring until just combined.
Pour the batter into the prepared bundt pan, smoothing the top.
Bake for 45-50 minutes, or until a toothpick inserted comes out clean.
Let the cake cool in the pan for 10 minutes, then invert onto a wire rack to cool completely.
Dust with powdered sugar before serving, if desired.