Federal Reserve meeting records from the September 2023 session document business contacts reporting uneven absorption of elevated energy expenses, with manufacturing firms in some districts noting limited ability to fully transfer costs amid softening demand while service providers cited greater flexibility through contractual adjustments. Primary FOMC transcripts emphasize regional divergences, including stronger pass-through in energy-intensive sectors versus restraint in consumer-facing industries wary of volume erosion. Cross-referenced against contemporaneous Bureau of Labor Statistics producer price data, these accounts reveal that input cost pressures have not uniformly translated into core goods inflation, contrasting with earlier 2022 patterns where broader transmission occurred. Multiple district perspectives captured in the minutes underscore that labor market tightness continues to support wage-driven cost shifts independent of energy, offering a lens into why headline disinflation may decouple from underlying measures that guide policy calibration. Such documentation prioritizes direct participant observations over aggregated models, illuminating channels through which energy volatility could sustain service-sector price momentum even as commodity benchmarks moderate.