A suspension system is provided for dampening vibrational energy and noise in an archery bow. The suspension system includes a limb including an axle clearance hole extending axially therethrough, an axle shaft extending through the axle clearance hole, and a bushing seated within the axle clearance hole for rotatably receiving the axle shaft therethrough. In addition, the suspension system includes a dampening member positioned and extending radially between the bushing and the limb for decoupling the axle shaft from the limb and dampening vibrational energy exerted through the axle shaft.