Fowler feels gradual progress is being made.
He told talkSPORT: "You look at it all season. Gradually the performances have been better and the consistency is there.
"They've got a lot of young players and potentially in a few years they could all be magnificent but we all want the success and we want it now, and Liverpool cannot currently compete with the top three yet."
And asked about his thoughts on the Northern Irish boss, he added: "I really rate him as a manager. I think he's brilliant."