BUG: arithmetic with reindex pow
- [x] closes #32685
- [x] tests added / passed
- [x] passes `black pandas`
- [x] passes `git diff upstream/master -u -- "*.py" | flake8 --diff`
- [x] whatsnew entry

lgtm. needs a rebase @Meeseeksdev backport to 1.0.x Owee, I'm MrMeeseeks, Look at me.

There seem to be a conflict, please backport manually. Here are approximate instructions:

1. Checkout backport branch and update it.

```
$ git checkout 1.0.x
$ git pull
```

2. Cherry pick the first parent branch of the this PR on top of the older branch:
```
$ git cherry-pick -m1 be7bfe6ab7ae2cba056f61dea6c3b0226bf80082
```

3. You will likely have some merge/cherry-pick conflict here, fix them and commit:

```
$ git commit -am 'Backport PR #32734: BUG: arithmetic with reindex pow'
```

4. Push to a named branch :

```
git push YOURFORK 1.0.x:auto-backport-of-pr-32734-on-1.0.x
```

5. Create a PR against branch 1.0.x, I would have named this PR:

> "Backport PR #32734 on branch 1.0.x"

And apply the correct labels and milestones.

Congratulation you did some good work ! Hopefully your backport PR will be tested by the continuous integration and merged soon!

If these instruction are inaccurate, feel free to [suggest an improvement](https://github.com/MeeseeksBox/MeeseeksDev).
                 @jbrockmendel do you have time to backport this today? > do you have time to backport this today?

yes