One problem related to power steering light on has been reported for the 2014 Ford Mustang. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2014 Ford Mustang based on all problems reported for the 2014 Mustang.
Tamara recall, the traction light come on and off the power steering failure light come on and makes a screeching noise, and the power steering gets extremely stiff in turns like it's about to lock up. The car only has 44,000 miles. All this happened while on a city street when turning. It's the electric power steering/ rack and pinion. There are a lot of post on youtube as well.