We consider the highly spin-imbalanced limit of a two-component Fermi gas, where there is a small density of $downarrow$ impurities attractively interacting with a sea of $uparrow$ fermions. In the single-impurity limit at zero temperature, there exists the so-called polaron-molecule transition, where the impurity sharply changes its character by binding a $uparrow$ fermion at sufficiently strong attraction. Using a recently developed variational approach, we calculate the thermodynamic properties of the impurity, and we show that the transition becomes a smooth crossover at finite temperature due to the thermal occupation of excited states in the impurity spectral function. However, remnants of the single-impurity transition are apparent in the momentum-resolved spectral function, which can in principle be probed with Raman spectroscopy. We furthermore show that the Tan contact exhibits a characteristic non-monotonic dependence on temperature that provides a signature of the zero-temperature polaron-molecule transition. For a finite impurity density, we argue that descriptions purely based on the behavior of the Fermi polaron are invalid near the polaron-molecule transition, since correlations between impurities cannot be ignored. In particular, we show that the spin-imbalanced system undergoes phase separation at low temperatures due to the strong attraction between $uparrowdownarrow$ molecules induced by the Fermi sea. Thus, we find that the impurity spectrum and the induced impurity-impurity interactions are key to understanding the phase diagram of the spin-imbalanced Fermi gas.
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