Research Professor of Economics Lee McPheters says there is likely to be a positive effect on spending, but people are also worried about their debts.

In this story published March 20, 2020, on ABC 15:

Arizona will be hit by a double whammy...restaurants and such will be shutting down and laying off workers and meanwhile if people stop moving to the state even for a few months that will bring growth to a stop. It is unlikely that the checks will offset those issues since they are caused by the virus.

– Research Professor of Economics Lee McPheters, who's the director of W. P. Carey 's JPMorgan Chase Economic Outlook Center