Cook the Pasta : Bring a pot of salted water to a boil and cook the fettuccine according to package instructions until al dente. Reserve ½ cup of pasta water, then drain and set the pasta aside.

Cook the Bacon : In a large skillet over medium heat, cook the bacon pieces until crispy. Remove the bacon with a slotted spoon and place on a paper towel to drain. Leave about 1 tablespoon of the bacon fat in the skillet, discarding the rest.

Sauté the Vegetables : In the same skillet, add the sliced mushrooms and cook for 3-4 minutes until they release their moisture and begin to brown. Add the minced shallot and sauté for another 2 minutes, until fragrant and softened.

Make the Sauce : Lower the heat to medium and add the cubed cream cheese and whole milk to the skillet. Stir continuously until the cream cheese melts into a smooth sauce. Add garlic powder, dried basil, and salt and pepper to taste. If the sauce is too thick, add a splash of the reserved pasta water to adjust the consistency.

Combine the Ingredients : Add the cooked fettuccine to the skillet and toss to coat the noodles in the creamy sauce. Stir in the crispy bacon and half of the chopped parsley.

Serve : Plate the fettuccine and garnish with the remaining parsley and a sprinkle of red pepper flakes for a touch of heat. Serve immediately and enjoy!