Having brought in Andy Carroll and Luis Suarez for a combined ?57.8million - funded almost entirely by the sale of Fernando Torres and Ryan Babel - director of football Damien Comolli has already said he expects to have a busy summer.
Liverpool's squad is in need of an overhaul, with principal owner John W Henry revealing he was surprised at the lack of depth on the playing staff when Fenway Sports Group bought the club in October.
Exciting times ahead: Liverpool defender Carragher (right) is looking forward to a busy summer on Merseyside
There have been hints that there is money to spend and Carragher is looking forward to some new arrivals.
'I think there will be a feelgood factor going into the summer and the start of next season,' said the veteran defender.
'As players we have to look after ourselves and do our own job but we are like supporters as well, we love to see top players coming to the club and hopefully that will be the case.
'Everyone is delighted with the business we did in January and hopefully similar things will happen in the summer.'
Monday night's opponents Manchester City have shown what can be done with a healthy transfer budget, although admittedly their resources stretch further than probably any other club in the world thanks to billionaire Sheikh Mansour.
Roberto Mancini's side are on the verge of qualifying for the Champions League for the first time and have an FA Cup semi-final against Manchester United at Wembley next weekend.
New recruits: Strikers Suarez (left) and Carroll arrived at Anfield in big-money moves in January
Carragher accepts it was inevitable they would bring increased competition in the battle for the top four.
'Obviously they have raised the standard for Champions League qualification with the players they have brought in,' said the 33-year-old.
'I am sure it won't stop as there will be more coming in the summer - but that is up to them.
Up next: Carlos Tevez and Manchester City
'We only play Man City twice in a season so whatever they do is up to them. In the games we play against them we have to do well this season, next season and in the years to come because they are going to prove a difficult team to stop if they carry on spending that type of money.
'But we only play them twice and it is what we do, we will look after what we do at this club.'
Since taking over in January manager Kenny Dalglish has effected a turnaround in performances which has seen the side beat Chelsea at Stamford Bridge and Manchester United at Anfield.
However, they have also lost to strugglers Blackpool, West Ham and West Bromwich.
'It just shows you the level we can get to by beating two of the top sides,' he said. 'The other games, it'speople who are fighting for their lives and they've got a different pressure on them to the ones at the top of the table.
'Whether it's a coincidence or something that's lacking in us, it's something we've got to find out.
'Ifwe've got something positive or something we're good at, we're not going to tell anybody. And if we've got something we're not so good at, we're certainly not going to tell anyone either.
'We have lost against teams at the bottom end of the table and beaten the ones at the top end. We've got to correct that.'
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