In a mixing bowl, cream butter and sugar. Add eggs, one at a time, beating well after each addition. Stir in vanilla. Combine the dry ingredients; add to cream mixture alternately with pumpkin, beating just until combined.
Pour into two greased and floured 9 inch x 5 inch loaf pans. Bake at 350 degrees for 65-70 minutes or until a toothpick inserted near the center comes out clean. Cool for 10 minutes before removing from pans to wire racks to cool completely.
Walnut Caramel Sauce
In a medium sauce pan place the brown sugar, heavy whipping cream, corn syrup, and butter. Stirring constantly, over medium low heat, bring to a boil. Continue to boil for 5 minutes. Add in vanilla and chopped walnuts. Serve over cooled pound cake. Store in refrigerator in air tight container. Reheat to use.
Notes
I double the caramel sauce to be sure I have enough.