Using a 9 inch round baking pan, grease bottom and sides with butter. Line bottom of pan with parchment paper.
In a medium bowl, whisk together flour, baking powder, baking soda and salt. Set aside.
In a large bowl, add butter, cream cheese and sugar. Mix until fluffy. Add eggs one at a time, mixing each until incorporated. Lastly, gently fold in half of the raspberries.
Pour batter into prepared pan and bake for 15 minutes. Remove from oven and add remaining half of raspberries on top, pressing gently into batter. Return to oven and continue baking for another 20-25 minutes or until lightly browned and a toothpick inserted into cake comes out cleanly. Let cool.
Remove from pan and dust top with powdered sugar. Slice and serve immediately.