No, such function doesn't need to be a Fourier transform of a finite measure (and, thereby, doesn't need to be a multiplier in $L^1$ or $L^\infty$). This is well-known and the most classical counterexample is just a smoothed Heaviside function $q$ that is $0$ on $(-\infty,1]$, $1$ on $[1,+\infty)$ and whatever you want (just keep it $C^\infty$) in between. One reason it is not a Fourier transform of a measure is that on one hand, such measure should simultaneously have and have not point masses by Wiener's formula
$$
\sum_x|\mu(\{x\})|^2=\lim_{|I|\to+\infty}|I|^{-1}\int_I |\widehat \mu(y)|^2\ dy
$$
(usually it is written for the interval $[-T,T]$, but the truth is that the limit can be taken over any sequence of intervals whose lengths tend to infnity). The existence of this limit is quite a restrictive condition on the absolute value of a bounded function that wants to be a Fourier transform of a finite measure.

The full description of Fourier transforms of measures seems beyond reach (not in the sense that it is hard to figure out what happens for each particular function or whether a given condition is necessary or sufficient, but in the sense that there are no easily checkable conditions that would be exactly equivalent to that property).