Peach Cobbler

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2 cups all-purpose flour

1 tablespoon baking powder

1/2 teaspoon salt

8 tablespoons unsalted chilled butter

1/2 cup sugar, plus 1/4 cup

1 cup heavy cream

6 cups peeled fresh or frozen peaches

2 tablespoons cornstarch

1/2 teaspoon ground cinnamon

Pinch grated nutmeg