Functional and Local Renormalization Groups

We discuss the relation between functional renormalization group (FRG) and local renormalization group (LRG), focussing on the two dimensional case as an example. We show that away from criticality the Wess-Zumino action is described by a derivative expansion with coefficients naturally related to RG quantities. We then demonstrate that the Weyl consistency conditions derived in the LRG approach are equivalent to the RG equation for the $c$-function available in the FRG scheme. This allows us to give an explicit FRG representation of the Zamolodchikov-Osborn metric, which in principle can be used for computations.