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I'm a junior student majoring in Math, and want to find a quant-relevant job in USA in the future. But I'm not sure whether to choose MFE(Mfin) or the Math/Statistic Phd.  I'll appreciate it if anyone could give me some suggestions!
And I also wonder that, in the present USA quant-job market, does MFE has the same competitiveness as Math/Physics Phd?

Quant finance is both a "science" and a "business". If your interests tend toward research and asking questions for knowledge's sake, go for the PhD. If your interests tend toward business, investment banking, or trading, the MFE might be more suitable. However, these are not bright line divisions. In many technical areas, the CEO of the business has a PhD. 

Re the job market, I don't know.