How exactly is Hoover going to be re-elected against even a blind panda in 1932?
Even if he somehow did get re-elected, and that's a scenario that's very difficult to imagine given the climate of the time, we'll certainly not be seeing any of the New Deal. Hoover didn't exactly have any grand-scale reforms in mind when he was running for re-election. Given that Congress is still very likely to be Democratic-dominated at this point, he certainly is going to have a hard time doing much of anything. The economy could get even worse in this case, and I could well see plenty of riots breaking out across the country. I'm not going to go and say there will be a communist revolution, but what happens is not going to be pretty.
Given that Prohibition is not likely to be repealed here, the Mafia will probably become even more powerful. With the populace even more in a bad way, people could begin to see organized crime as a better alternative to good governance.
I can't say what all happens. FDR would certainly win a huge landslide come 1936, but the GOP might be completely out of luck for many years to come when their reputation is a two-term president who did nothing while the depression spiraled out of control. Maybe Dewey doesn't even rise to prominence in this case. Say that the different circumstances mean that the Mafia decide to go along with Dutch Schultz and have him clipped? That is assuming that Dewey even gets that far.
This is all just speculation, however. It's almost impossible to see Hoover getting re-elected in 1932 against anyone.