While waiting for Tony to give you a better answer, Here's my .02.

If in deed interviewing has stopped until Summer, you are correct, the school house will keep training and probably the pool (what ever is left of it) will probably (slowly) empty. My guess is hiring will not stop, as it creates problems in moving people out of junior positions (unless they are over staffed in the 727 SO, anyone who knows care to comment??).
While FedEx has in the past "closed" the school house to new hires, the prevailing opinion is that we are still expanding and "priming the pump" as you will, keeps the system moving without creating the usual problems of an on again off again training schedule.
We are all looking toward the next bid (I should say, all junior type's, the senior types are obsessing over the age 60 thing ) You will probably read about it here before most FedEx pilots do as word (and rumors seem to travel faster here than even on the line). Good luck, don't sweat what FedEx is/will do, it will happen in its own good time (and probably slower/later than it should have).