Preheat oven to 325 degrees F (165 degrees C). Grease and flour a 10-inch Bundt or tube pan thoroughly.
In a small skillet over medium heat, melt 2 tablespoons butter. Add chopped pecans and 1/4 teaspoon salt. Toast, stirring constantly, for 3 to 5 minutes until fragrant and slightly darkened. Remove from heat and cool.
In a large mixing bowl, cream 1 cup softened butter and sugar together at medium-high speed until light and fluffy, approximately 5 minutes.
Add eggs one at a time, beating well after each addition to ensure proper emulsification. Mix in vanilla and almond extracts.
In a separate bowl, whisk together flour, baking powder, and 1/2 teaspoon salt.
Reduce mixer speed to low. Add the flour mixture to the creamed butter in three parts, alternating with the milk in two parts, beginning and ending with the dry ingredients. Mix until just combined.
Fold the toasted pecans into the batter manually using a spatula.
Transfer the batter into the prepared pan and smooth the top with a spatula.
Bake for 70 to 80 minutes, or until a wooden skewer inserted into the thickest part of the cake comes out clean or with a few moist crumbs.
Allow the cake to cool in the pan for 15 minutes before inverting onto a wire rack to cool completely.