of the moment
Currently popular or of importance. The topic of the moment is whether the senator will try to distance himself from his brother's remarks. That color is really of the moment—you'll see it on a lot of runways this month.
of the moment
Of importance at this time, as in The issue of the moment is dealing with our budget deficit. This expression gave rise in succeeding decades to the man of the moment, meaning "the most important person at this time," as in When Alan hit a home run and broke the tie, he was the man of the moment. [c. 1930]