Liverpool sit second in the Premier League ahead of Sunday's clash with fierce rivals Manchester United, who languish 11 points behind them in sixth.
Rodgers' side can complete a league double over United with victory this weekend, but have not won at Old Trafford since their famous 4-1 triumph in March 2009.
However, Liverpool are the Premier League's most prolific team this season and have earned emphatic wins over the likes of Arsenal, Tottenham and neighbours Everton over the last few months.
And Fowler, who scored 183 goals in 369 appearances across two spells at Anfield, believes they can continue that trend this weekend.
"It's always a massive game but the difference this time is that Liverpool must be favourites," Fowler told the Liverpool Echo.
"I can't remember the last time a Liverpool team went to Old Trafford in that position.
"On paper it's a game Liverpool should win. They're in great form and I am quietly confident Liverpool can get a big result there.
"People talk about how far United have dropped but I also look at it from the other side - how far Liverpool have come.
"That's testament to what Brendan has achieved so far. He has got the team playing so well and I think teams are starting to fear Liverpool again. The manager deserves a lot of credit for that."
Conversely, Fowler considers United to be a team that no longer frightens opponents, even at home.
"A few teams have gone to Old Trafford and got results this season," he added. "It has lost that fear factor. United had it for a number of years.
"Teams went there knowing they would be on the back foot and almost expecting to lose. That's not happening anymore.
"Now teams are actually pushing on looking to win there rather than sitting back, hoping to nick a point."
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