WARD IDENTITIES AND WILSON RENORMALIZATION-GROUP FOR QED

We analyze a formulation of QED based on the Wilson renormalization gr oup. Although the ''effective lagrangian'' used at any given scale doe s not have simple gauge symmetry, we show that the resulting renormali zed Green's function correctly satisfies Ward identities to all orders in perturbation theory. The loop expansion is obtained by solving ite ratively the Polchinski renormalization group equation. We also give a new simple proof of perturbative renormalizability. The subtractions in the Feynman graphs and the corresponding counter-terms are generate d in the process of fixing the physical conditions.