I just went through something similar with my son's 88.
Turns out it was bad wires in the wiring harness, right behind the power steering pump.
I went through all the diagnostics on the pumps, relays, inertia switch, grounds etc etc. I got a lot of help here with things to check and look for but could not find any faulty part. I even replaced the FPR, (only $14 @ Checker)
I finally traced the power wire from the front pump to the connector near the master cylinder, (kinda looks like an old fashioned barrel fuse holder, Gotta squeeze it to pull it apart) I had continuity between the pump and the connector.
Then I tried the ohm meter between that connector and the inertia switch connector by the air filter box and had no continuity.
I started to unwrap the wiring harness under the master cylinder where all the connectors are and found the power wire for the pumps was broke inside the insulation.
I also found a bunch of other wires that were broke or worn through the insulation. I guess I'm lucky things did not short out and take out the computer.
There's nothing right there that looked like it would rub against the harness to compromise the wires but I guess after 20 years....
I would suggest tracing the power wire from the front pump up to that connector then over to the connector by the fuel pump relay/air box.
That one is a gray 2 prong that connects to the intertia switch inside the cab.
Let us know how it goes.
Bill