97 ford taurus catalic converter?

I have recently bought a ford taurus and the check engine light has came on I read the code and it came up p4043 I think I remember it it refered to the converter I was wondering if it could be something else. I was also wondering if this could be effecting the way the tranns acts . symptoms are when it is cold it seems to have good pickup warms up and it seems like it takes more power to make it move. also it seems to to be a little lose in the steering it is weird it just has a little play i mean everything seems tight. also the breaks seem to pulsate if pushed hard (quick) stop work fine. I forgot if I unrestrict flow or take out catalic converter will it still throw signal thanks one more thing there is no smeel to the exuast can any one help DREW

that code more likely refers to an failed O2 sensor than to a bad cat

Check all your hydraulic fluids for all the problems you listed, all your symptoms could be due to low fluid levels.