11:00AM BST 01 Jul 2011
So far Kenny Dalglish has brought in England Under-21 midfielder Jordan Henderson from Sunderland.
But having seen Ipswich target Connor Wickham join Sunderland and Arsenal full-back Gael Clichy apparently set for a move to Manchester City - coupled with arch-rivals Manchester United spending £50 million-plus on Phil Jones, Ashley Young and David De Gea - there is a growing feeling among Liverpool fans that the club were falling behind in the transfer market.
However, Carragher is unconcerned and backed the club's hierarchy, with owners Fenway Sports Group making it clear to director of football Damien Comolli they want to get more value for money from their signings, to bring in the right players.
"It's still very early and I didn't expect too much to happen on the transfer front before now," he told the Liverpool Echo.
"Over the summer players, managers, chief executives and owners are all away on holiday.