Liverpool splashed out over £100 million on eight players in the summer in a bid to rebuild their squad in the wake of Luis Suarez's £75m switch to Barcelona.
And while Rodgers admits he would like to bring more new faces to Anfield in the winter window, he believes he will most likely have to make do with what he has until the end of the season.
"If we get a positive result on Saturday [against West Ham] that'll put us in a great position [to challenge for the Premier League's top four]," the Liverpool boss told reporters.
"Every manager will always want more signings... I would want to be able to do one or two things.
"But I always said the likelihood was we wouldn't sign anyone in January and it looks like that is going to be the case."
But Rodgers was significantly more upbeat on the future of Sterling, who is currently in talks with Liverpool over a new long-term contract that will reportedly make him one of the highest earners at Anfield.
"It's all in hand with his representatives," the northern Irishman added. "He's happy and sees his long-term future here. He's a real sponge for learning."
Daniel Sturridge could return to action following his extended injury lay-off against the Irons having joined in first team training in the past week.
But Rodgers does not believe the England international will be the club's "saving grace" given how long he has been out of action.
"In training in the last few days he has been brilliant, back to what we've seen before - dynamic, fast and strong.
"But we have to be careful because he has been out for a long time. We can't put him under pressure and expect him to be our saving grace as soon as he gets back.
"We will give him another day and I'll have a chat with him to see how he feels, but certainly he looks in top-class condition."