The Reds have been linked with a move for former forward Michael Owen, who is currently a free agent, but Fowler is adamant that the Merseysiders should have brought in a new striker before letting Carroll leave.
"It wasn't great, we were all expecting someone else to come in and sign. But as per most things in the transfer window you're either really excited by what has happened or really disappointed and I, along with the majority of fans, was disappointed," Fowler told talkSPORT.
"I just felt that if you did let Andy Carroll go then someone else was definitely going to come in.
"It wasn't the case but I would have preferred to get someone else in and then get rid of Andy Carroll. I would have thought that would have been the sensible way rather than the way it was done."
Liverpool are still in search of their first Premier League win this season.