Let $m$ be a radial multiplier supported in a compact subset away from the origin. For dimensions $d\ge 2$, it is conjectured that the multiplier operator $T_m$ is bounded on $L^p(R^d)$ if and only if the kernel $K=\hat{m}$ is in $L^p(R^d)$, for the range $1<p<2d/(d+1)$. Note that there are no a priori assumptions on the regularity of the multiplier. This conjecture belongs near the top of the tree of a number of important related conjectures in harmonic analysis, including the Local Smoothing, Bochner-Riesz, Restriction, and Kakeya conjectures. We discuss new progress on this conjecture in dimensions $d=3$ and $d=4$. Our method of proof will rely on a geometric argument involving sizes of multiple intersections of three-dimensional annuli