The Magpies were denied all three points when Luis Suarez's well-taken goal cancelled out an equally impressive one from Yohan Cabaye.
They had to see things out with 10 men too after captain Fabricio Coloccini was sent off for lunging in on the impressive Suarez - even if he did not make as much contact as he looked set too.
Pardew questioned Taylor about the decision on the field afterwards but was happy to accept it, especially after a week which has seen officials feature heavily in the news.
"I thought he (Taylor) maybe got caught up in the emotion and I wanted to ask him before he'd had a chance to see replays," Pardew told Sky Sports 1.
"He said he thought it was serious foul play. The morale of referees must be really low at the moment, because of constant criticism and the issues around them. We accept his decision and I thought he had a good day.
"I don't think there was any intent but we accept it."
Despite Liverpool hogging possession and creating the majority of the goalscoring chances, Newcastle only ever really looked troubled when Suarez was on the ball.
"I felt we lacked concentration at 1-0. We were looking comfortable and I fancied we might have got a second," Pardew added.
"The goal changed the proceedings of the second half. Suarez is a great player and kept causing us problems. If we could have wrapped him up, we could have won."