Grease a loaf pan. For easier removal, line it with parchment paper, leaving some overhang on the sides.

In a large mixing bowl, stir together the flour, sugar, dried cranberries, baking powder, salt, and nutmeg.

In a separate bowl, combine the softened butter, eggs, vanilla extract, and eggnog using an electric hand mixer.

Add the wet ingredients to the dry ingredients. Stir with a wooden spoon just until combined, scraping the bottom and sides of the bowl. The batter will be thick.

Spoon the batter into the prepared loaf pan and smooth the top with the back of a spoon.

Bake for 50–60 minutes, or until a toothpick inserted into the center comes out clean or with a few moist crumbs.

While the loaf bakes, prepare the glaze. Whisk the powdered sugar and eggnog together in a bowl until smooth.

Let the loaf cool in the pan until firm enough to handle, then carefully transfer it to a wire rack. Cool completely before drizzling with the eggnog glaze. Slice and serve.