Ryan Gravenberch's curling opener in the sixth minute gave Liverpool the lead, but Chelsea levelled through Enzo Fernández's free-kick before half-time with Marc Cucurella twice going close before the goal. In the second half Cole Palmer had a goal ruled out for offside and João Pedro was felled inside the box without a penalty being awarded.
McFarlane was direct about what he felt the result could have been.
"It was a really good performance. It could have gone either way, really, at certain moments in that game. Probably, being a little bit biased, we could have won the game. We had some good moments. I remember Enzo's chance in the first half, Cucurella getting into some really good areas, another marginal offside, a penalty that I thought — and I know it's a tough job for officials — but I think that's a clear penalty. So arguably we could have come away with three points."
The result ends Chelsea's six-match Premier League losing run, though it leaves them ninth and still outside the European places. McFarlane framed the performance positively while acknowledging the season's context.
"This club needs to win games of football, and we haven't done that today. We're not happy with the form and some of the recent performances, so yeah, it's nice to have a good, complete performance. It would have been better with a win, but when you come to these places, it's really difficult. So it's a positive day."
Chelsea travel to Anfield having also avoided equalling a 74-year-old club record of seven consecutive Premier League defeats. The draw provides some momentum heading into the FA Cup final against Manchester City at Wembley next Saturday — the one occasion this season where the club can still claim a major trophy.
McFarlane has managed Chelsea for five matches since replacing the sacked Liam Rosenior last month. Saturday was his clearest evidence yet that the squad retains enough quality to perform at the highest level when the environment is right.