I had experienced the same loss power problem in the past. As it turned out, the problem was the front catalytic converter, as is mentioned in the above postings.
How it happened rings bells to your heavy rain situation. I had taken my Aerostar, which I had just purchased, to one of those car washes that sprays "cold" water underneath the vehicle.
It took me a couple of months to figure out what really happened at the car wash. But what happened was the "cold" water that sprayed underneath the vehicle, shattered the interior ceramic part of the catalytic converter (because the temperature of the catalytic converter was super hot).
My 93 Aerostar has two catalytic converters. What I did was crawl under the vehicle and tap on them using a hammer. The rear catalytic converter seemed ok, but the front catalytic converter sounded like marbles inside (which is the broken ceramic pieces and chunks).
Advice: In the mean time, do not push your Aerostar too hard. You may end up boiling your transmission fluid into oblivion.