Hair up, hair down, sleeves or sleeveless, Michael Kors, Jason Wu, Narciso Rodriguez — or will there be a new favorite in June? And will she or won’t she attend? Yes, she will, unless some emergency comes up and she is needed elsewhere. The Council of Fashion Designers of America (CFDA) will honor First Lady Michelle Obama at its annual awards ceremony, the Oscars of fashion, happening this year on June 15 at Lincoln Center’s Alice Tully Hall.

Correct me if I am wrong, but this is the first time the CFDA has honored a First Lady since Nancy Reagan.

Mrs. Obama will receive this year’s Board of Director’s Special Tribute at the awards ceremony that evening, thanking her for her support of the American fashion industry in Recessionista times, and, especially, her support of new, lesser-established American fashion talents, such as Isabel Toledo, Thakoon and Jason Wu. On June 15, if the First Lady’s schedule allows, it is expected that CFDA president Diane Von Fürstenberg will organize a lunch, tea or private drinks events for fashion’s elite. Or, possibly, Von Fürstenberg will host something swell the following day if Mrs. Obama stays in Manhattan. Rome has the pope, Seventh Avenue has Michelle Obama — however long she stays in town, 15 minutes to 15 hours, her visit will be a big deal here.

In addition to the salute to the First Lady, the CFDA announced yesterday its nominees for the 2009 Womenswear Designer of the Year Award. The nominees include Marc Jacobs, Narciso Rodriguez and sisters Kate and Laura Mulleavy, the designers of the Rodarte label.

Anna Sui will receive the Geoffrey Beene Lifetime Achievement Award and Women’s Wear Daily editor-in-chief Edward Nardoza will receive the Eugenia Sheppard Award for fashion journalism.

For more on Michelle Obama’s fashion, check out Michelle Obama’s Greatest Fashion Hits.