Liverpool boss Roy Hodgson says he and sports director Damien Comolli are cautious about being active in the January market.
Hodgson's new American pay-masters have not given him a budget to work with in January - even though the manager is hoping to be given the cash to land up to three new players.
New chairman Tom Werner's arrival will help to improve trans-Atlantic communications.
Hodgson said: "We haven't discussed with the owners what their thoughts will be on January. What both Damien and I have said is that the January market is a less trustworthy one because sometimes there is an element of panic attached to it."
