Ferguson was sure the Football Association would take more action against the England Under-21 captain once they saw the incident again, claiming afterwards: "I don't think he is out of trouble."
Ferguson Wanted More Action Taken Against Taylor!
But referee Steve Bennett only felt the tackle on Ronaldo, which he missed at the time, warranted a yellow card.
As FIFA regulations specifically state yellow cards cannot be upgraded or added to other offences, Taylor is in the clear, which will only fuel Ferguson's belief Ronaldo is being victimised.
Bennett has already sent Ronaldo off twice before, once at Portsmouth and again at Manchester City earlier this season.
Ferguson: "Ronaldo is an easy target for the referees.
"It is easy to give decisions against him because he is such a great player and he is so celebrated.
"When he is away from home every crowd boos him, so he has to handle that. But it is not helping him."
The Football Association will take no further action against Taylor.
The Kent official has reviewed the incident again and while he did tell Soho Square chiefs he would have booked Taylor for the foul on Ronaldo, which would have therefore amounted to a red card, under FIFA regulations, the FA are powerless to change punishments that would involve two yellow cards rather than a single red.
It means Taylor is now clear to face Hull at the KC Stadium on March 14.
The news has come as a relief to Newcastle, who have been dragged back into the thick of the relegation fight, with a number of tough games - including home matches against Arsenal and Chelsea - still to come.