First wife Michelle Obama has established herself as a fashion savvy first lady and now she is being honored for her fantastic fashion sense. Mrs. Obama will be honored by the Council of Fashion Designers of America at an awards gala in June, says the Associated Press. "We wanted to acknowledge her in a serious way for her commitment to American fashion," CFDA president Steven Kolb tells the AP. "A grant also will be established in her name to assist a young fashion company." Narciso Rodriguez, Jason Wu, and Thakoon Panichgul three of the designers who help to outfit the first lady have also received CFDA nominations. She has a nice taste in fashion.